2025-11-19 sec-litreleases litigation_release 66 KB 1,877 chars

SEC v. Michael G. Hull; Christopher J. Nohl; Bluepoint Investment Counsel, LLC; Chrysalis Financial LLC; and Greenpoint Asset Management II LLC, No. LR-26422, Western District of Wisconsin (Nov. 19, 2025) — Press Release

raw: Michael G. Hull; Christopher J. Nohl; Bluepoint Investment Counsel, LLC; Chrysalis Financial LLC; and Greenpoint Asset Management II LLC

Michael G. Hull; Christopher J. Nohl; Bluepoint Investment Counsel, LLC; Chrysalis Financial LLC; and Greenpoint Asset Management II LLC, No. 3:19-cv-00809 (Nov. 19, 2025)

Caption
Ortega-Estrella v. United States
Source PDF JSON
summary

Investment managers Michael G. Hull and Christopher J. Nohl and their entities were ordered to pay over $27.5 million following a securities fraud verdict regarding inflated fund returns.

paragraph

Michael G. Hull, Christopher J. Nohl, and their related entities were found liable for securities fraud involving the Greenpoint Tactical Income Fund. The court ordered total monetary relief exceeding $27.5 million, including $12,560,647 in disgorgement and $3,537,378 in prejudgment interest. Defendants also face civil penalties, with Hull and Nohl paying $5 million each and the entities paying $500,000 each.

narrative

The SEC successfully litigated a securities fraud case against Michael G. Hull, Christopher J. Nohl, and their entities, including Bluepoint Investment Counsel, Chrysalis Financial, and Greenpoint Asset Management II. The defendants fraudulently inflated returns for the Greenpoint Tactical Income Fund by misrepresenting performance in an illiquid portfolio of gems, minerals, and private equity. Following a jury verdict, the court ordered total monetary relief exceeding $27.5 million. This relief includes $12,560,647 in disgorgement, $3,537,378 in prejudgment interest, and $11 million in combined civil penalties. Hull and Nohl were each ordered to pay $5 million, while the related entities were ordered to pay $500,000 each. Additionally, the court imposed permanent injunctive relief against Hull, Nohl, GAM II, and Chrysalis.

Enriched metadata

Scheme
investment-adviser-fraud (100%)
Court
Western District of Wisconsin
Case No.
3:19-cv-00809
Disgorgement
$12,560,647
Entity
Bluepoint Investment Counsel, LLC
Classified investment-adviser-fraud(confidence 100%). EDGAR detection: forms ADV/ADV-E/ADV-W/Form D· recall 33% / precision 13%. detection rule →
Statutes
15 U.S.C. § 78j(b)17 C.F.R. § 240.10b-515 U.S.C. § 77q(a)
Parties
Ortega-EstrellaUnited States
Keywords
llcchrysalishullnohlbluepointinvestmentgreenpointbluepoint investmentinvestment counselhull nohlmichael hullhull christopherchristopher nohlchrysalis financialgreenpoint asset

Exhibits & Attached Documents (2)

Extracted insights

Dollar amounts 6
  • $27.50M $27.5 million $10M–$100M
  • $27.00M $27 Million $10M–$100M
  • $12.56M $12,560,647 $10M–$100M
  • $5.00M $5 million $1M–$10M
  • $3.54M $3,537,378 $1M–$10M
  • $500K $500,000 $100K–$1M
Entities 6
  • agency by timothy stockwell of the sec's chicago regional office
  • scheme_term for securities fraud
  • company greenpoint tactical income fund
  • scheme_term hull, nohl, and their related entities with securities fraud
  • person jury verdict
  • agency Securities and Exchange Commission
Triples 11
  • Securities And Exchange Commission Ordered Managers Of a Wisconsin Investment Fund And Their Related Entities To Pay Over $27 Million
  • U.S. Securities And Exchange Commission Filed First Amended Complaint In February 2020
  • Court Entered Final Judgments Against Investment Managers Michael G. Hull, Christopher J. Nohl, Greenpoint Asset Management Ii Llc, Chrysalis Financial Llc, Bluepoint Investment Counsel Llc, Greenpoint Tactical Income Fund Llc, And Greenpoint Rare Earth Trading Account Llc
  • Jury Verdict Held Defendants Liable For Securities Fraud
  • Securities And Exchange Commission Charged Hull, Nohl, And Their Related Entities With Securities Fraud
  • Greenpoint Tactical Income Fund Claimed Fraudulently Inflated Returns On Its Investments In An Illiquid Portfolio Of Gems, Minerals, And Private Equity
  • Court Ordered Hull, Nohl, Gam Ii, Chrysalis, And Blueprint To Be Jointly And Severally Liable For Disgorgement Of $12,560,647 And $3,537,378 In Prejudgment Interest
  • Court Ordered Hull And Nohl To Pay $5 Million Each In Civil Penalties
  • Court Ordered Gam Ii, Chrysalis, And Bluepoint To Pay $500,000 Each In Civil Penalties
  • Court Ordered Permanent Injunctive Relief Against Hull, Nohl, Gam Ii, And Chrysalis
  • Securities And Exchange Commission Led Litigation By Timothy Stockwell Of The Sec's Chicago Regional Office
PDF (from attached: complaint)
Plaintiff, the United States Securities and Exchange Commission (the “SEC”), alleges as · Source
Text layers
Extracted body text (1,877c) 
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26422 / November 19, 2025 Securities and Exchange Commission v. Bluepoint Investment Counsel, LLC, et al., No. 3:19-cv-00809 (W.D. Wis. Oct. 6, 2025) Court Orders Managers of a Wisconsin Investment Fund and Their Related Entities to Pay Over $27 Million Following Jury Trial Verdict On October 6, 2025, a federal district court in Madison, Wisconsin entered final judgments against investment managers Michael G. Hull, Christopher J. Nohl, Greenpoint Asset Management II LLC (“GAM II”), Chrysalis Financial LLC (“Chrysalis”), Bluepoint Investment Counsel LLC (“Bluepoint”), Greenpoint Tactical Income Fund LLC (“Greenpoint Tactical Income Fund”), and Greenpoint Rare Earth Trading Account LLC (collectively ”Defendants”), following an August 2, 2022, jury verdict holding Defendants liable for securities fraud. The SEC’s first amended complaint, filed in February 2020, charged Hull, Nohl, and their related entities, Bluepoint, Chrysalis, and GAM II, with securities fraud in connection with their operation and promotion of the Greenpoint Tactical Income Fund, a Wisconsin-based private investment fund that claimed fraudulently inflated returns on its investments in an illiquid portfolio of gems, minerals, and private equity. The Court ordered that Hull, Nohl, GAM II, Chrysalis, and Blueprint are jointly and severally liable for disgorgement of $12,560,647 and $3,537,378 in prejudgment interest. The Court also ordered Hull and Nohl to pay $5 million each in civil penalties, and it ordered GAM II, Chrysalis, and Bluepoint to pay $500,000 each in civil penalties, for total monetary relief exceeding $27.5 million. In addition, the Court ordered permanent injunctive relief against Hull, Nohl, GAM II, and Chrysalis. The SEC’s litigation was led by Timothy Stockwell of the SEC’s Chicago Regional Office.
OCR text (1,877c · html-text · 99% conf) 
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26422 / November 19, 2025 Securities and Exchange Commission v. Bluepoint Investment Counsel, LLC, et al., No. 3:19-cv-00809 (W.D. Wis. Oct. 6, 2025) Court Orders Managers of a Wisconsin Investment Fund and Their Related Entities to Pay Over $27 Million Following Jury Trial Verdict On October 6, 2025, a federal district court in Madison, Wisconsin entered final judgments against investment managers Michael G. Hull, Christopher J. Nohl, Greenpoint Asset Management II LLC (“GAM II”), Chrysalis Financial LLC (“Chrysalis”), Bluepoint Investment Counsel LLC (“Bluepoint”), Greenpoint Tactical Income Fund LLC (“Greenpoint Tactical Income Fund”), and Greenpoint Rare Earth Trading Account LLC (collectively ”Defendants”), following an August 2, 2022, jury verdict holding Defendants liable for securities fraud. The SEC’s first amended complaint, filed in February 2020, charged Hull, Nohl, and their related entities, Bluepoint, Chrysalis, and GAM II, with securities fraud in connection with their operation and promotion of the Greenpoint Tactical Income Fund, a Wisconsin-based private investment fund that claimed fraudulently inflated returns on its investments in an illiquid portfolio of gems, minerals, and private equity. The Court ordered that Hull, Nohl, GAM II, Chrysalis, and Blueprint are jointly and severally liable for disgorgement of $12,560,647 and $3,537,378 in prejudgment interest. The Court also ordered Hull and Nohl to pay $5 million each in civil penalties, and it ordered GAM II, Chrysalis, and Bluepoint to pay $500,000 each in civil penalties, for total monetary relief exceeding $27.5 million. In addition, the Court ordered permanent injunctive relief against Hull, Nohl, GAM II, and Chrysalis. The SEC’s litigation was led by Timothy Stockwell of the SEC’s Chicago Regional Office.

Related documents (4)