LJM Funds Management Founder’s Statement

LJM Funds Management Founder’s Statement

LJM Funds Management Founder’s Statement in response to SEC and CFTC Actions

(STL.News) We published two announcements yesterday regarding LJM Fund Management.  Article titles and links are listed below:

  1. CFTC Charges LJM Funds Management and More
  2. SEC Charges LJM Funds Management, Ltd

The following statement was provided to us:

Anthony “Tony” Caine, Founder and Principal of LJM Funds Management, Ltd. (“LJM”), today issued the following statement in response to enforcement actions brought against LJM and its principals by the Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) in the U.S. District Court for the Northern District of Illinois:

“We categorically deny all of the SEC’s and CFTC’s assertions, have summarily rejected their respective settlement offers, and will vigorously defend ourselves.  We will demonstrate that the risk of loss was fully disclosed, LJM did not deviate from historical portfolio and risk management practices, and the losses sustained on February 5-6, 2018, occurred as a result of events outside of LJM’s control.

“The suggestion that LJM committed fraud has no factual basis and is undermined by the fact that I personally lost over $100 million on February 5-6, 2018, and LJM portfolio managers invested more than $500,000 new capital on February 1, 2018, in the same funds as LJM investors.

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Author: Marty Smith