Tyche Asset Management

Chicago-based Tyche Asset Management boss Phillip Galles has been arrested in the United States following criminal and regulatory charges that he perpetrated a $6 million Ponzi scheme via his investment funds in the Cayman Islands and Delaware.

Complaint alleging a $6 million fraud in Commodity Futures Trading Commission v. Phillip Galles, of Chicago, Illinois, USA; Tyche Asset Management LLC, of Delaware; Tyche Master Fund Ltd., of the Cayman Islands; Tyche Asset Trade LLC, of Delaware; Tyche Offshore Fund Ltd., of the Cayman Islands; Tyche Onshore Fund LP, of Delaware; Tyche PML Master Fund Ltd., of the Cayman Islands; Tyche PML Onshore Fund LP, of Delaware, and Tyche Onshore Fund GP, LLC, of Delaware, at the U.S. District Court for the Northern District of Illinois.

Criminal Complaint in USA v. Phillip Galles at the U.S. District Court for the District of New Jersey.