In January, a whistleblower complaint was filed by three employees of the TCA Fund Management Group with the Securities and Exchange Commission. According to an SEC press release on May 12, The SEC proceeded to appoint a receiver over TCA Fund Management Group, TCA Global Credit Fund GP, and the funds managed by TCA to “protect investors from a fraudulent scheme allegedly conducted by TCA.” If you invested in TCA , contact us immediately for a FREE Consultation. Peiffer Wolf is a nationally recognized law firm that currently represents hundreds of investors around the country.
Have you experienced losses in your investment portfolio do to your investments in TCA Global Credit Funds? The securities attorneys at Peiffer Wolf Carr Kane & Conway represent investors and fight to recover losses. Having represented thousands of investors across the country, Peiffer Wolf has the experience to maximize recovery for investors.
TCA Fund Management Group claimed to have $500 million in assets, with earnings of 7-to-8% each year. However, a whistleblower complaint filed with the SEC alleged that the firm had inflated those numbers by at least $130 million. Additionally, the complaint alleged that the earnings were only 1.92% percent each year. As a result, the SEC filed fraud charges:
“The Securities and Exchange Commission today filed fraud charges against Florida-based investment adviser TCA Fund Management Group Corp. (TCA) and its affiliate, TCA Global Credit Fund GP, Ltd. (TCA-GP), for an alleged fraudulent scheme conducted by TCA to inflate asset values and performance returns of funds it managed.”
The whistleblowers also revealed the SEC was already looking into the investment firm since 2014:
“Not long ago, the SEC was conducting a routine examination at TCA, the employees said. The exam was triggered after TCA reported more than $150 million in assets, a level at which SEC oversight typically kicks in for private fund companies.”
“The SEC exam, which covered 2014 through 2016, found irregularities, the employees said. TCA restated net asset values for the Global Master Credit Fund and made whole investors who had been disadvantaged, they said.”
Peiffer Wolf is currently investigating potential claims on behalf of investors who were recommended the following funds:
Financial advisors (brokers) have a legal obligation and regulatory obligation to recommend only suitable investments that are appropriate for their individual clients. Their broker-dealer (employing brokerage firm) has a legal obligation and regulatory obligation to supervise the financial advisor’s sales practices and dealings with clients. To the extent that any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
The attorneys at Peiffer Wolf have recovered hundreds of millions of dollars for investors and are now investigating claims for investment losses in TCA.
If you are a TCA Fund Management Group investor, Contact Us Today by calling 504-523-2434 or by filling out an online Contact Form for a FREE Consultation. Concerns about possible misconduct and fraud are serious, and we are committed to fighting on your behalf.