The Securities and Exchange Commission filed a complaint yesterday against a hedge fund that once managed as much as $1 billion in assets, accusing the firm of lying to its investors about performance and asset values to earn higher fees, the New York Times DealBook reported yesterday. The agency said that as a result of the misrepresentation, the fund, Yorkville Advisors, persuaded investors to give it $280 million to manage, which translated into more than $10 million in excess fees. The complaint also names its founder and president, Mark Angelo, and its chief financial officer, Edward Schinik.
