The U.S. Securities and Exchange Commission has filed suit against the owner of a Centennial investment firm, accusing him of fraud and lying.

The SEC alleges that Michael S. Moses and his Moses Investment Company LLC raised about $1 million from investors after lying about his expertise.

Moses reportedly told investors that he previously was "a 'Portfolio Manager for [a] $750MM Global Macro Investment Company, it also omits to state that Moses’ trading strategies during that time were unsuccessful, and that Moses’ consultant position, and his strategies, were terminated for that reason after six months," according to the SEC complaint.

The SEC also alleges that Moses claimed he managed a private hedge fund account, but "Moses was not operating a hedge fund; rather, Moses’ trading consisted exclusively of him trading his own money in his personal trading account."

Read more at the Denver Business Journal: