October 6, 2017 / 8:48 PM / 11 days ago

Former F-Squared CEO found liable in U.S. SEC fraud case

BOSTON, Oct 6 (Reuters) - A U.S. jury on Friday found that the former chief executive of F-Squared Investments Inc, once the largest U.S. money manager creating portfolios out of exchange-traded funds, violated federal securities laws.

A federal jury in Boston sided with the U.S. Securities and Exchange Commission in finding that former F-Squared CEO Howard Present intended to defraud investors or was reckless in how he touted the history of his firm’s flagship investment product.

Reporting by Nate Raymond in Boston; Editing by Andrew Hay

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