The Securities and Exchange Commission (SEC), America’s chief financial regulator, has obtained a court order freezing the assets of a British citizen linked to an alleged US hedge fund fraud.

The High Court has frozen around £500,000 of assets held in the UK belonging to Glenn Manterfield of Sheffield, who the SEC has accused of conspiring with a US citizen to defraud investors in Lydia Capital, a US hedge fund.

Mr Manterfield’s assets will be frozen until the SEC has concluded its investigation into Lydia Capital.

The regulator has charged Mr Manterfield and his partner Evan Andersen of defrauding more than 60 investors in Lydia Capital of around $34 million (£17.3 million).

The SEC has accused the two of materially overstating and in some instances fabricating [Lydia Capital’s] performance and inventing business partners, offices and investors in an attempt to "legitimise the firm.”

Mr Manterfield could not be contacted for comment. He is not listed on the Financial Services Authority register of those authorised to work in regulated financial services in the UK.

According to Lydia Capital's website, the firm is being managed by its receivers, who could not be reached for comment.

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