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FOR IMMEDIATE RELEASE Washington D.C., Jan. 12, 2021 The Securities and Exchange Commission today charged fund manager Eric C. Malley and his company MG Capital Management L.P. with defrauding retail investors in two real estate funds managed by MG Capital. According to the SEC’s complaint, beginning in 2014, Malley – a licensed real estate broker with no investment management experience – and MG Capital solicited investments in two real estate funds, MG Capital Management Residential Funds III and IV, respectively, raising a total of $58 million primarily on the strength of a fabricated investment track record. The complaint alleges that in marketing Funds III and IV, Malley and MG Capital falsely claimed that they had previously managed two highly-successful real estate funds with a combined portfolio value of $1.18 billion that had significantly outperformed the S&P 500 Index over a 10-year period when, in fact, those prior funds never existed. As al

New yorkUnited statesLara shalov mehrabanEricc malleyToddd brodyDerekm schoenmannNeilb hendelmanExchange commissionBureau of investigationYork regional officeSecurities exchangeUs district courtFederal bureau of investigationYork regionalSouthern districtSecurities act