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Komfie Manalo, Opalesque Asia:

Chicago-based investment fund manager Neal V. Goyal was charged by the Securities and Exchange Commission for allegedly stealing money from his investors and operating a Ponzi scheme.

In a statement, the SEC accused Voyal along with Caldera Advisors and Blue Horizon Asset Management violated securities laws for operating a Ponzi scheme. In its complaint, the SEC seeks financial penalties, disgorgement of ill-gotten gains plus prejudgment interest, and a permanent injunction against Goyal, Blue Horizon Asset Management, and Caldera Advisors. The SEC named another Goyal-controlled entity Caldera Investment Group as a relief defendant in its complaint for the purpose of recovering any investor funds it received.

The SEC alleges that Goyal told investors that the private funds he managed would invest in securities following a "long-short" trading strategy. However, Goyal actually did little trading and simply operated a Ponzi scheme that used new investor funds to pay redemptions to existing investors and fund his own lavish lifestyle. Goyal concealed the poor results of the few investments he did make by sending investors phony account statements that grossly overstated the performance of the funds.

In a parallel action, on May 28, 2014, the U.S. Attorney's Office for the Northern District of Illinois filed a criminal information against Goyal.......................

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