$125,000 for Misrepresenting Assets

MANHATTAN (CN) – Three executives at KCAP Financial agreed to pay a total of $125,000 to settle SEC charges of overstating the fund’s assets during the financial crisis.     CEO Dayl Pearson, 57, of Locust Valley, will pay $50,000; former CFO Michael Wirth, 54, of Scarsdale, a CPA, will pay $50,000; and R. Jonathan Corless, 60, of Pound Ridge its chief investment officer, will pay $25,000, the SEC said.