Phillip Galles


June 30, 2023

Type of alert:


Phillip Galles, 57, of Chicago, was arrested on charges that he ran a scheme that took in more than $6 million from more than 50 investors with promises of returns that exceeded 200%. The CFTC also filed charges relating to Galles’ investment program run through Tyche Asset Management. Galles misrepresented to investors that he had about $2 billion under management and that a Kuwaiti sovereign-wealth fund was interested in investing in the hedge fund.

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