The parent company of a Madison-based investment group that claims to solicit money for UW-Madison alumni-connected ventures even though it isn’t affiliated with the university settled with the Securities and Exchange Commission late last week for allegedly misleading investors, among other charges.
New Hampshire-based Alumni Ventures Group, which has affiliate firms all over the U.S. including in Madison, has agreed to repay $4.7 million to affected funds, as well as a $700,000 penalty per the charges. The Group’s CEO, Mike Collins, is also to pay a $100,000 penalty, according to the SEC’s March 4 order.
Read full story at https://madison.com/news/local/madison-venture-capital-groups-parent-company-fined-700k-for-misleading-investors-on-fees/article_ea2d66ce-4331-5d9e-83aa-20afe83094b2.html