(Photo: Brendan Smialowski/AFP/Getty Images)
Federal regulators filed fraud charges against a fund manager from Nokomis, claiming he secretly removed more than $1 million from investors’ accounts.
The Securities and Exchange Commission said Steven Zoernack hid a criminal past from clients while providing false financial data to investors and to an independent research firm.
In an administrative complaint, the SEC contends that Zoernack and his EquityStar Capital Management LLC fraudulently offered and sold at least $5.6 million in interests in two private investment funds to more than 40 investors in 20 states from May 2010 to March 2014.
The original article can be found at heraldtribune.com