A Massachusetts financier has been indicted on fraud and obstruction of justice charges for allegedly defrauding investors in a $40 million mutual fund.
Daniel Thibeault, 40, of Framingham, has been charged with securities fraud, wire fraud, aggravated identity theft and obstruction of justice, according to U.S. Attorney for Massachusetts Carmen Ortiz's office.
Thibeault, a 2004 graduate of Harvard Business School, is the founder and owner of Graduate Leverage LLC, a Waltham-based asset management and financial advisory firm. He was also co-portfolio manager of GL Beyond Income Fund, a mutual fund that purported to invest in consumer loans to individuals with graduate degrees.
The indictment alleges, among other things, that many loans were fictitious and that Thibeault diverted some of the fund's assets for use on business and personal expenses.