The Securities and Exchange Commission (SEC) filed an emergency enforcement action against Virgil Capital LLC, its affiliated companies, and 23-year-old CEO Stefan Qin, for allegedly engaging in securities fraud.
Stefan Qin is the sole owner of Virgil Technologies, the parent company of Virgil Capital
Montgomery Technologies, Virgil Quantitative Research, and VQR Partners. He controls and directs all of these companies.
He is an Australian citizen and a part-time resident of New York, New York, and is believed to be in Seoul, Korea.
According to the SEC, lured investors to invest in Virgil Capital’s two funds, the Sigma Fund and the VQR Multistrategy Fund by using materially false, and misleading statements. His deceitful conduct caused serious harm to investors.
The SEC obtained a court order imposing an asset freeze and other emergency relief to prevent Stefan Qin, Virgil Capital, and its affiliated companies from causing further harm to investors. The cryptocurrency hedge fund’s assets worth $25 million have been frozen.
