The SEC has frozen the remaining assets of  Global Money Management LP, a La Jolla, CA  based hedge fund. Investors should look into  legal action to recover money.

The SEC complaint named San Diego-based Global  Money Management, L.P., (GMM) an unregistered  private hedge fund, LF Global Investments,  LLC (LF Global), which operated GMM, and Marvin  I. Friedman, 65, of La Jolla, California,  who controlled both entities.

The Commission's complaint alleges that since  1993, the defendants have sold, in an unregistered  offering, limited partnership interests in  GMM, a purported private hedge fund that invested  in securities, such as stock and stock options.  While the amount of money actually raised  is not known, Friedman has told investors  at various times over the last several months  that the hedge fund held assets ranging from  $60 million to over $100 million. GMM's brokerage  records, however, show that, since at least  December 2002, the securities it holds have  been worth no more than $11 million. In addition,  Friedman touted his investment experience  but failed to inform investors about his disciplinary  history, including that he has been barred  from association with any member of the NASD.

Shepherd, Smith, and Edwards is in the process  of helping them recover their losses.

If you lost money in this fund, or with another  fraudulent fund or stockbroker, contact  us as soon as possible to learn how we  may be able to help you recover your investment  losses.