Andrea Rossi’s Partner Tom Darden & Cherokee Investment Partners, LLC Fined by SEC
Published on March 6, 2016
This is unbelievable we go away for a year and things are going crazy behind the scenes. First Sterling D. Allan, Andrea Rossi’s greatest partner and promoter bar none, gets locked up for molesting young girls.
Now we find that Cherokee Investment Partners, LLC and Cherokee Advisers, LLC, owned by Tom Darden, the same person who is a partner with the felon and con-artist Andrea Rossi through the start-up firm Industrial Heat LLC, along with JT Vaughn, has been issued a cease and desist order by the SEC. They were fined US$100,000 by the SEC and they reimbursed all of the $455,698 in questionable expenses according to the Triangle Business Journal.
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All of this is detailed in this SEC report. You can download it from this SEC webpage – or here:
INVESTMENT ADVISERS ACT OF 1940
Release No. 4258 / November 5, 2015
File No. 3-16945
From the document –
On the basis of this Order and Respondents’ Offer, the Commission finds that:
- This matter arises from the improper allocation by two affiliated private equity fund advisers to client funds of certain consulting, legal, and compliance-related expenses incurred based on their standing as registered and/or relying investment advisers, as well as other related compliance failures. Cherokee Investment Partners, LLC is a private equity fund adviser that has at all relevant times acted as the manager of two private equity real estate funds with investments in environmentally contaminated property: Cherokee Investment Partners II, L.P. (“Fund II”) and Cherokee Investment Partners III, L.P. and Cherokee Investment Partners III Parallel Fund, L.P. (collectively, “Fund III”). Cherokee Advisers, LLC is a private equity fund adviser that has at all relevant times acted as the manager of Cherokee Investment Partners IV, L.P. (“Fund IV”) (hereafter, Fund II, Fund III, and Fund IV are collectively referred to as “the Funds”).
According to the article covering this story in the Triangle Business Journal –
Cherokee Investment Partners reaches $100,000 settlement with SEC
We find this comment –
Cherokee and its subsidiary Cherokee Advisors LLC have agreed to pay the commission $100,000 in fines. The groups have already reimbursed all of the $455,698 in questionable expenses, according to an SEC order issued Nov. 5.
Published on March 6, 2016