Boston financier indicted on charges he defrauded investors in $40 million mutual fund

A Massachusetts financier has been indicted on charges he defrauded investors in a $40 million mutual fund.

The U.S. attorney's office in Massachusetts says 40-year-old Daniel Thibeault, of Framingham, was charged Wednesday with securities fraud, wire fraud, aggravated identity theft and obstruction of justice.

Thibeault is a 2004 graduate of Harvard Business School and the founder and owner of Graduate Leverage LLC, a Waltham-based asset management and financial advisory firm. He was also co-portfolio manager of GL Beyond Income Fund, a mutual fund that purported to invest in consumer loans to individuals with graduate degrees.

The indictment alleges that many loans were fictitious and that Thibeault diverted some of the fund's assets for use on business and personal expenses.

Thibeault and his lawyers didn't immediately respond to requests for comment.