SEC files action against hedger
The SEC has filed an injunctive action against James G. Marquez, a principal of the failed Bayou Fund.
The Securities and Exchange Commission has filed a civil injunctive action against James G. Marquez, a principal of the failed hedge fund Bayou Fund LLC of Chicago, according to published reports.
According to the SEC, Mr. Marquez and his associates, Samuel Israel III and Daniel E. Marino, concealed substantial trading losses that the fund suffered from 1996 to 2001. Mr. Marquez has agreed to settle the charges.
Mr. Marquez was sentenced to 51 months in prison and a fine of $6.26 million in January. Mr. Israel and Mr. Marino each were sentenced to 20 years.
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