Former F-Squared CEO found liable in SEC fraud case

Reuters News
Posted: Oct 06, 2017 5:03 PM

BOSTON (Reuters) - A U.S. jury on Friday found that the former chief executive of F-Squared Investments Inc, once the largest U.S. money manager creating portfolios out of exchange-traded funds, violated federal securities laws.

A federal jury in Boston sided with the U.S. Securities and Exchange Commission in finding that former F-Squared CEO Howard Present intended to defraud investors or was reckless in how he touted the history of his firm's flagship investment product.

Banning Straws
John Stossel

(Reporting by Nate Raymond in Boston; Editing by Andrew Hay)