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Quantek Asset Management LLC
Quantek Asset Management LLC’s history is marred by deceptive practices, including false claims of management investment and fabricated approval processes, leading to significant SEC penalties.
Quick summary on Quantek Asset Management LLC
Quantek Asset Management LLC deceived investors by falsely claiming that its executives had personal investments in the Quantek Opportunity Fund, creating a misleading impression of aligned interests.
Misrepresentation of Investment Processes: The firm misled investors about its investment approval procedures, providing fabricated and backdated documents to conceal the absence of a formal investment approval process.
Improper Related-Party Transactions: Quantek engaged in undisclosed related-party loans to affiliates of its executives, later attempting to conceal these actions by backdating and falsifying records.
Regulatory Actions and Penalties: The SEC charged Quantek and its executives with violations, resulting in over $3.1 million in disgorgement and penalties, alongside industry bans for key individuals.
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