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Craig Allen

Date:

May 8, 2024

Type of alert:

Fraud  

The SEC has charged Craig Allen with defrauding investors in The Cheetah Fund L.P., an Atlanta-based hedge fund he founded and controlled. Allegedly, between January 2019 and January 2023, Allen raised around $9.9 million by misleading investors about the fund’s performance, while incurring significant trading losses. The SEC contends Allen falsely claimed the fund had a specific auditor and made substantial compensation despite losses. To date, only about $900,000 has been returned to investors, resulting in losses of approximately $9 million. The SEC seeks various penalties, including a permanent injunction and disgorgement.

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