Clayton Parker

Nine years after OffshoreAlert raised red flags about the group, the U. S. Securities and Exchange Commission has accused New Jersey-based investment adviser Yorkville Advisors and its boss, Mark Angelo, of defrauding hedge fund investors of more than $10 million.

The head of a group that established a Cayman Islands hedge fund last year was once disciplined for a securities violation in the United States, OffshoreAlert can disclose. Mark Antony Angelo, 32, President of New Jersey-based Cornell Capital Partners, was fined $500 by the Maine Securities Division in 1999 for failing to disclose the existence of seven consumer complaints against him when he was a licensed sales representative. The nature of the complaints is not public knowledge.