Mohammad Ali Rashid, a former senior partner at private equity firm Apollo Management L.P., is charged with using his clients’ fund to pay for personal expenditures, the Securities and Exchange Commission (SEC) said today.
The SEC said in a press release that Rashid secretly billed his clients for approximately $290,000 for family vacations, hair salon visits, and purchasing designer clothing—including a $3,500 Zegna suit for his father.
‘Enforcement 40’ for 2020
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