How did The Daily Caveat miss this one? In early November the SEC put the kibosh on a group of California-based hedge funds run by a gentleman named Edward Ehee. Ehee was the proprietor of several funds, including, the Compass West Fund, the Viper Founders Fund, and the Viper Investments.

Shockingly, or perhaps not so, the SEC has seized the funds assets, alleging that Mr. Ehee diverted client funds to cover a variety of personal expenses, including car payments (any question about what he drives?). While Ehee's funds essentially ceased any kind of legitimate operation back in 2002, as recently as this year he was still peddling phony financials and convincing trusting souls to hand over their money for him to manage.

But no longer.

You can download the SEC's compliant here and the link above leads to their press release.

And of course, being a few days late, but unable to pass on the story, will teach me not to read Dealbreaker daily.

-- MDT

Labels: Dealbreaker, Edward Ehee, Fraud, hedge fund, SEC, Viper