The Securities and Exchange Commission (SEC) has charged Western Pacific
Capital Management, LLC, and company president, Kevin James O’Rourke,
with fraud after an investigation. The charges allege that the company
misrepresented the liquidity of a
hedge fund, failed to disclose a
conflict of interest, and also had issues with registration.
According to the SEC, Western Pacific Capital Management and O'Rourke
enticed investors with a certain investment, but failed to disclose that
the company received a 10% commission from it. Additionally, clients did
not receive written disclosures, and the company allegedly made
omissions and misstatements to clients regarding a hedge fund the company managed.
One of the SEC's investigators said of the multiple issues that, "Investment
advisers have a
fiduciary duty to act in the best interests of their clients and be forthcoming with
them. Western Pacific and O’Rourke fraudulently breached that duty
by failing to disclose the commissions they would receive for the recommended
investments and lying to clients about the liquidity of the fund they
The securities fraud attorneys with Meyer Wilson represent clients who
have been harmed by stockbroker misconduct, breach of fiduciary duty,
and investment fraud. We have recovered millions of dollars for clients
across the nation, and we look forward to speaking with you.