The allegations read: The securities and exchange commission ("commission") deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to section 15(b) of the securities exchange act of 1934 ("exchange act") and section 203(f) of the investment advisers act of 1940 ("advisers act") against robert russel tweed ("respondent"). The commission finds that on april 27, 2020, a final judgment was entered by consent against tweed, permanently enjoining him from future violations of sections 206(4) of the advisers act and rule 206(4)-8 thereunder, in the civil action entitled securities and exchange commission v. Robert russel tweed, et al., civil action number 17-cv-07251, in the united states district court for the central district of california. The commission's complaint alleged that, in connection with the management of the athenian fund, a pooled investment vehicle, tweed failed to timely disclose the loss of investors' capital, failed to provide audited financial statements to investors, and otherwise engaged in conduct that misled investors.
