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Mar 21, 2018

Securities and Exchange Commission Enforcement Action | Nicholas J. Genovese, Willow Creek Investments, LP, and Willow Creek Advisors, LLC on March 21,2018


SEC Seal

Purported Hedge Fund Manager Charged with Conducting an Ongoing Fraud

Litigation Release No. 24071 / March 21, 2018

Securities and Exchange Commission v. Nicholas J. Genovese, Willow Creek Investments, LP, and Willow Creek Advisors, LLC, No. 18-cv-942 (S.D.N.Y. filed Feb. 2, 2018)

The Securities and Exchange Commission has obtained a preliminary injunction and continued asset freeze against Nicholas J. Genovese and his hedge fund and advisory firm.
The preliminary injunction and continued asset freeze order, entered by the Honorable John G. Koeltl of the U.S. District Court for the Southern District of New York on February 26, 2018, preliminarily enjoined Genovese and Willow Creek Investments, LP from violating Section 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and preliminarily enjoined Genovese and Willow Creek Advisors, LLC from violating Sections 206(1), 206(2) and 206(4) of the Investment Advisers Act of 1940 and Rule 206(4)-8 thereunder. The court's preliminary injunctions will remain in effect until the litigation of this matter is concluded.
The SEC charged Genovese and his hedge fund and advisory firm on February 2, 2018. According to the SEC's complaint, Genovese and his fund and firm raised more than $5.3 million from at least six investors by lying about his prior securities industry experience and size of operations, and by concealing his past criminal history.