The Securities and Exchange Commission (SEC) is launching an investigation into the fund managers at a hedge funds group that has been linked to a major New York City fire, the agency announced on Wednesday.
The New York-based Jausas Funds was created in 2013 by two former executives of one of the hedge funds that collapsed in the Sept. 11 attacks.
The fund managers then went on to invest in a number of other companies.
Last year, a New York state judge awarded a $1.5 billion jury award to investors who had sued Jausans for failing to provide them with the funds they needed to cover losses.
