John Hughes

Date:

January 16, 2024

Type of alert:

Fraud

The SEC charged John Hughes of Prophecy Asset Management LP in a multi-year fraudulent scheme. Hughes allegedly led investors to believe that their investments were protected but in reality, was lying about the funds’ trading practices, performance, and level of risk. He collected over $15 million in fees. Hughes provided false documents and executed sham transactions to conceal funds’ performance.

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