monopoly_money.jpgA Walnut Creek man was sued by the Securities Exchange Commission in San Francisco Wednesday for allegedly posing as a hedge fund manager in a scheme to defraud investors.

Walnut Creek resident Stephen Bond has been sued for aiding the scheme of Silicon Valley businessman Albert Hu to solicit investments in the “Asenqua” and “Fireside” funds from 2001 to 2008, for which Bond subsequently received approximately $900,000. Bond was portrayed at meetings with potential investors as the funds’ portfolio manager, according to the SEC.

“Bond held himself out as a seasoned investment professional, convincing investors that their money was in good hands,” SEC San Francisco Regional Office director Marc Fagel said in a statement.

The SEC alleges that Bond conducted no actual securities trading for the funds, but his apparent knowledge was significant in swaying investors to give them their money.

The SEC complaint, filed in the federal district court for the Northern District of California, charges Bond with violations of antifraud provisions of federal securities laws and seeks to order him to pay financial penalties and hand over “ill-gotten gains.”

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