SEC v. EPG Global Private Equity Fund, Ltd.; and Anthony F. Giordano, No. LR-18577 — Press Release
raw: EPG Global Private Equity Fund et. al.
EPG Global Private Equity Fund et. al., No. LR-18577
The SEC charged EPG Global Private Equity Fund and its founder Anthony F. Giordano with securities fraud for falsely marketing EPG as a principal-guaranteed investment with assured returns while concealing Giordano’s NASD disciplinary history and inflating asset values, resulting in a permanent injunction and a $50,000 civil penalty against Giordano.
The SEC alleged that EPG Global Private Equity Fund and its founder Anthony F. Giordano committed securities fraud by making material misrepresentations in national advertisements and offering materials, falsely claiming EPG was a principal-guaranteed hedge fund with guaranteed returns. Giordano, a previously barred NASD representative, concealed his disciplinary history and inflated the value of assets under management. Without admitting or denying the allegations, both parties consented to a permanent injunction prohibiting violations of Sections 5(c), 17(a)(1), and 17(a)(3) of the Securities Act, with Giordano additionally enjoined under Sections 206(1) and 206(2) of the Investment Advisers Act, and he was ordered to pay a $50,000 civil penalty.
The Securities and Exchange Commission filed a settled civil action against EPG Global Private Equity Fund, Ltd. and its founder Anthony F. Giordano for engaging in securities fraud by promoting EPG as a 'principal guaranteed' hedge fund with assured returns, despite no such guarantees existing. Giordano, a former registered representative barred by the NASD, used national newspaper advertisements and direct mailings to solicit investors while concealing his disciplinary history, inflating the value of assets under management, and misrepresenting expected returns. Both EPG and Giordano consented to a Final Judgment without admitting or denying the allegations, agreeing to a permanent injunction that bars them from violating Sections 5(c), 17(a)(1), and 17(a)(3) of the Securities Act of 1933. Giordano was additionally enjoined from violating Sections 206(1) and 206(2) of the Investment Advisers Act of 1940, which prohibit fraudulent conduct by investment advisers. As part of the settlement, Giordano was ordered to pay a $50,000 civil penalty, while EPG was permanently prohibited from further securities offerings or violations. The case underscores the SEC’s enforcement focus on deceptive marketing of so-called 'guaranteed' investment products and the concealment of material disciplinary histories by promoters. The absence of admission or denial in the settlement reflects a common resolution mechanism in SEC enforcement actions, allowing for swift injunctive relief without protracted litigation.
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- Securities and Exchange Commission filed a settled civil injunctive action EPG Global Private Equity Fund, Ltd. and Anthony F. Giordano
The Securities and Exchange Commission (Commission) announced today that it filed a settled civil injunctive action against EPG Global Private Equity Fund, Ltd. (EPG), a purported "principal guaranteed" hedge fund, and its founder Anthony F. Giordano (Giordano). EPG, with its registered office in Boca Raton, Florida, and Giordano, who also resides in Boca Raton, Florida, consented, without admitting or denying the allegations in the Commission's Complaint, to the entry of a Final Judgment of Permanent Injunction and Other Relief (Final Judgment). According to the Commission's Complaint, Giordano, a former registered representative barred by the National Association of Securities Dealers (NASD), attempted to raise investor funds by placing a series of national newspaper advertisements regarding EPG and by mailing EPG offering materials to potential investors. The Commission's Complaint also alleges that, in connection with the offering, EPG and Giordano made numerous material misrepresentations and omissions to potential investors about the guaranteed nature of the investment, the returns that EPG investments would generate, the value of the assets that Giordano had under management, and Giordano's disciplinary history with the NASD. The Final Judgment permanently enjoins EPG from violating Sections 5(c), 17(a)(1) and 17(a)(3) of the Securities Act of 1933 (Securities Act) and enjoins Giordano from violating Sections 5(c), 17(a)(1) and 17(a)(3) of the Securities Act and Sections 206(1) and 206(2) of the Investment Advisers Act of 1940 (Advisers Act). Giordano will also pay $50,000 in civil penalties. SEC Complaint in this matter
The Securities and Exchange Commission (Commission) announced today that it filed a settled civil injunctive action against EPG Global Private Equity Fund, Ltd. (EPG), a purported "principal guaranteed" hedge fund, and its founder Anthony F. Giordano (Giordano). EPG, with its registered office in Boca Raton, Florida, and Giordano, who also resides in Boca Raton, Florida, consented, without admitting or denying the allegations in the Commission's Complaint, to the entry of a Final Judgment of Permanent Injunction and Other Relief (Final Judgment). According to the Commission's Complaint, Giordano, a former registered representative barred by the National Association of Securities Dealers (NASD), attempted to raise investor funds by placing a series of national newspaper advertisements regarding EPG and by mailing EPG offering materials to potential investors. The Commission's Complaint also alleges that, in connection with the offering, EPG and Giordano made numerous material misrepresentations and omissions to potential investors about the guaranteed nature of the investment, the returns that EPG investments would generate, the value of the assets that Giordano had under management, and Giordano's disciplinary history with the NASD. The Final Judgment permanently enjoins EPG from violating Sections 5(c), 17(a)(1) and 17(a)(3) of the Securities Act of 1933 (Securities Act) and enjoins Giordano from violating Sections 5(c), 17(a)(1) and 17(a)(3) of the Securities Act and Sections 206(1) and 206(2) of the Investment Advisers Act of 1940 (Advisers Act). Giordano will also pay $50,000 in civil penalties. SEC Complaint in this matter