Investment Adviser Took Kickbacks|While Losing $40 Million, SEC Says

LOS ANGELES (CN) - San Luis Obispo investment adviser Jeffrey Forest took more than $388,000 in kickbacks from a hedge fund that lost $40 million of Forest's clients' money in subprime-backed paper, the SEC says. Forrest and his company, WealthWise, took the kickbacks from Thompson Consulting, of Salt Lake City, which managed the Apex Equity Options Fund, which collapsed in August 2007, the SEC says in Federal Court.

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