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Private equity firm backed by some of America’s wealthiest families accused of misusing funds
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The Securities and Exchange Commission is investigating a private-equity firm backed by several ultrarich US families after receiving complaints that its owner was using investor funds to cover personal expenses, documents show.
The firm, One Thousand & One Voices Management, and a unit that manages one of its funds received subpoenas three months ago from the SEC’s Division of Enforcement seeking a range of materials, according to documents viewed by The Wall Street Journal.
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