Another hedge fund finds itself in a thorny situation, as the Securities and Exchange Commission has charged investment manager Global Crown Capital with fraud for concealing losses from investors. What's particular sticky in this case is that the victims are investors in another hedge fund: San Francisco-based HF Cogent Capital Management. According to the SEC, fund managers Rani Jarkas and Antoine Chaya allegedly concealed from investors of a hedge fund they advised, Cogent Capital Management, trading losses in excess of 20% by sending them misleading account stated that falsely inflated the fund's performance. The agency claims the two men put a $200,000 reserve in Cogent without the cash actually making it into the firm's coffers, and even included that money in its quarterly returns on investor capital. Global Crown, with an estimated $30 million AUM, made news earlier this month with the launch of what is believed to be the first nanotechnology hedge fund and venture capital fund in the U.S.