FORTUNE -- We're written a lot over the past couple of years about how a private equity unit of Oppenheimer & Co. once inflated the valuation of one of its investments, in order to help market a new fund. The SEC later charged Oppenheimer with misleading investors, and the firm agreed to pay a penalty, return money to investors and be censured. Also charged by the SEC was group head Brian Williamson, who is fighting the allegations.
When Williamson was charged back in August, I publicly wondered why Oppenheimer was continuing to let him manage firm assets via a third-party platform Williamson formed after spinning out of Oppenheimer. Oppenheimer said it was reviewing the complaint and allegations, but never issued a follow-up.
Now Fortune has obtained an investor letter that contains three new pieces of information:
In short, Oppenheimer just can't quit this guy.
Sign up for my daily email newsletter on deals and deal-makers: GetTermSheet.com
Oppenheimer retains ties with controversial private equity executive.
FORTUNE -- More than a year ago, we reported on how a private equity unit of Oppenheimer & Co. had inflated the valuation of one of its investments, in order to help market a new fund. The SEC later charged Oppenheimer with misleading investors, and the firm agreed to pay a penalty, return money to investors and be censured.
What it didn't do, however, was cut MOREDan Primack - Aug 21, 2013 11:26 AM ET
SEC busts Oppenheimer for inflating investment valuations.
FORTUNE -- The Securities & Exchange Commission today charged two units of Oppenheimer & Co. with misleading investors as to the value of its private equity investments.
The SEC also announced that Oppenheimer has agreed to a censure, and that it will pay a $617,579 penalty and return approximately $2.27 million in capital commitments to those who invested in the relevant private equity fund during the MOREDan Primack - Mar 11, 2013 12:44 PM ET
Does Oppenheimer have an accounting scandal?
Last month, we broke news that Oppenheimer & Co.'s private equity team had spun out into an independent firm called Roc Resources. Just two weeks later, the WSJ reported that Oppenheimer was under investigation by the SEC and other government agencies for inappropriately changing the valuation of one of its investments, perhaps to make a new Roc-branded fund more attractive to prospective investors.
Upon first hearing about the investigation, I wondered MOREDan Primack - Mar 20, 2012 9:55 AM ET
|Teen millionaire helping Yahoo become cool again|
|"The Hobbit" dispute sparks lawsuit|
|Five things you didn't know about Bernie Madoff's epic scam|
|Stocks falter as budget deal raises taper risk|
|Obamacare: 365,000 have signed up for insurance on exchanges|