Responding to a news story it called inaccurate, United Capital Markets CEO John Devaney released a statement denying the allegations that appeared in a New York Post article. The news item detailed Devaney's being booed for his remarks at the recent Information Management Network ABS East conference, accounts of which were completely false.

The article also claimed that investors who were unhappy about their unpaid investments in Devaney's plotted to steal the paintings from the CEOs yacht.

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