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SEC sues Brian Kahn over Prophecy hedge fund collapse
The SEC filed a civil fraud lawsuit tied to the collapse of Prophecy Asset Management, while prosecutors have also brought criminal charges against one of the fund’s executives.
The US Securities and Exchange Commission has filed a civil fraud lawsuit against former Franchise Group chief executive Brian Kahn connected to the collapse of the hedge fund Prophecy Asset Management, according to a report cited by Hedgeweek.
The outlet also said that federal prosecutors have brought criminal charges against one of Prophecy’s executives as part of the wider case surrounding the fund’s failure.
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