SEC Charges Aphelion Fund Management With Fraud, Freezes Assets [UPDATED]

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UPDATE 07/01/15   On 18 June 2015, at the UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK, all claims that were asserted by the SEC against ( George Palathinkal)in this action were dismissed with prejudice and without costs, and waiving all rights of appeal. Notice of Voluntary Dismissal as to Palathinkal (FILED COPY) The Securities and Exchange Commission has charged Aphelion Fund Management CIO Vineet Kalucha and CFO George Palathinkal with tampering with an external audit to overstate their performance, inflating their assets under management and other crimes, freezing the fund’s assets to protect the firm’s clients. “We allege…

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