A hedge fund that told investors it couldn’t lose money is under SEC investigation, according to a Bloomberg News report.
Statim Holdings, a small Atlanta-based hedge fund firm, had previously been investigated by Georgia regulators starting in 2015.
Last summer, Bloomberg reported that Statim’s investors weren’t sure how the firm made its money — despite the firm reporting strong annual returns.
Statim and the firm’s founder, Joseph Meyer, have not been accused of misconduct, and as is usual for SEC investigations, an inquiry doesn’t necessarily mean charges will be brought, Bloomberg reported.
A lawyer representing the firm and Meyer referred Business Insider to statements he made in the Bloomberg report, where he said his clients hadn’t done anything wrong.
The SEC declined a request to comment from Business Insider.
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