Soreide Law Group is investigating client losses in Infinity Q Capital Management LLC (Infinity Q), and in particular, Infinity Q Diversified Alpha Fund Investor Class (IQDAX), due to the recommendations of brokers.
In a recent article in InvestmentNews, they stated that the $1.8 billion fund has halted redemptions by investors due to the alleged portfolio manager fraud. On February 22, 2021, Infinity Q Innovative Investments informed their investors that it had received approval from the Securities and Exchange Commission (SEC) to “suspend redemptions and postpone the date of redemption payments beyond seven days” because it is “unable to value certain assets held in the fund.”
According to the SEC order, the Infinity Q Chief Investment Officer and founder, James Velissaris, made changes to the methodology for valuing certain assets held by its funds and this raised questions about the accuracy of the value of the fund holdings. As an open-end mutual fund it is required to be able to redeem shares at the net asset value each business day. There was a statement made by the company on February 19th. stating that Velissaris had been relieved of his duties effective February 21st.
According to the InvestmentNews, Infinity Q stated that it intends to proceed with a liquidation plan and distribution to shareholders and the plan will be presented to the SEC for approval. As of yet, there is no estimate when the liquidation and distribution will be completed.
This six-year-old fund, is up less than 1% this year, and gained 5.9% last year. The S&P 500 Index is up 3.3% this year and gained more than 16% last year.
If you’ve experienced financial losses in any of the Infinity Q Capital Management LLC (Infinity Q) funds, including, Infinity Q Diversified Alpha Investor Fund (IQDAX), due to the recommendation of your broker/dealer or financial advisor, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group works on a contingency fee basis and represents our clients nationwide before FINRA.
Steven Graham (CRD 1977736) denies the allegations in a pending customer claim filed on August 11, 2026. The disclosure names Western International Securities as the firm, and the claim involves corporate bonds. No arbitrator has ruled on it. His BrokerCheck report also lists a settled bond dispute and a federal court matter from earlier years.
A claim filed on September 11, 2024 names Thomas Hamlin (CRD 2208505) over a 10% Senior Unsecured Note in iCap Fund III. Every disclosure on his BrokerCheck report involves an iCap private placement and names Somerset Securities as the firm. Each one settled, and a settlement is not an admission of wrongdoing.
Peter Po's most recent settlement came on June 28, 2026, when a corporate bond claim settled for $40,000. Po (CRD 3106974) appears in several settled customer disputes over corporate and high-yield bonds. The disclosures name NI Advisors or California Securities as the firm, and each matter ended in a settlement, not a finding.
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