The agency accused Yorkville Advisors, founder Mark Angelo and finance chief Edward Schinik of “grossly” exaggerating the value of various portfolios in a bid to boost fees charged to clients and to court business during the height of the financial crisis.
The alleged scheme and subsequent cover-up devised by the defendants dates back to 2008 and involves loans and investments tied to small start-ups and “distressed public companies”, the SEC argued in a complaint filed in the Southern District of New York.
While
