Violation Tracker Individual Record

Company: 
Saber Funds, LLC et. al.
Penalty: 
$7,282,500
Year: 
2015
Date: 
September 29, 2015
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

Saber Funds LLC; Saber Funds Distributors, LLC; Saber Asset Management, LLC; Fixed Term Government Fund, LLC; MSI Fund I, LLC; MSI Fund II, LLC; BWX Fund, LLC; Preferred Income Portfolio, I; Phoenix Equities, LLC; and Hallus Realty Group, LLC and their owners agreed to pay $6.7 million in restitution and $800,000 in civil penalties ($217,500 suspended) in settlement of a legal action by the Bureau of Securities alleging multiple violations of the state Uniform Securities Law by selling unregistered securities and providing investors with false information.

Level of Government: 
state
Action Type: 
agency action
Agency: 
New Jersey Bureau of Securities
Civil or Criminal Case: 
civil
Facility State: 
New Jersey
Facility City: 
Middletown
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.