SEC v. Tomislav Vukota

Tomislav Vukota allegedly breached fiduciary duties and made material misrepresentations to private funds and investors. According to the SEC's complaint, from at least 2017 through May 2022, Vukota and VCM appear to have caused various private funds they advised to make short-term loans to VCM at below-market rates to, among other things, cover cash shortfalls at other private funds. Also, during February and March 2021, Vukota and VCM appear to have sent misleading letters to the investors in four private funds in connection with Vukota’s attempt to buy the investors’ interests. Furthermore, from at least 2017 through 2023, Vukota and VGAM allegedly made material misstatements in marketing and offering materials for the Vukota Multi-Strategy Fund concerning the existence of an auditor, the amount of assets under management, the investment strategy, and the filing status as an exempt reporting adviser.

Summary generated from official Securities and Exchange Commission press release