Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:The SEC Sues a Twin Cities Manager Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, September 17, 2012

The SEC Sues a Twin Cities Manager

News summary by MFWire's editors

A federal lawsuit was filed by the SEC against Twin Cities manager David Blaine Welliver, reports the Star Tribune.

According to the report, Welliver, who ran his own advisory business called Dblaine Capital, is accused of fraud and "flagrant and numerous" securities violations.

The lawyers representing the SEC also said they learned that the former Minneapolis police and fire pension fund advisor opened Stringfield Capital after they sued him, and he promised investors "a whopping 12 percent annual return." This, according to the suit, is something he could not pay.

Welliver lawyers told the Star Tribune there would be no comment.

Welliver has faced suits before. In 2000, he was hit with a $14.6 million judgement when he allegedly mismanaged funds, and he pleaded guilty to a 2003 suit that he failed to file IRS employee benefit plan forms. There was also a suit between Welliver and the DoL in 2004 when he allegedly moved funds from his company's retirement plan to a personal account, the Star Tribune reports.  

Edited by: HFD


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use