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Framingham man arrested on charges of securities fraud

A Framingham man was arrested Wednesday night on charges of securities fraud, federal prosecutors in Boston said.

Daniel Thibeault, 40, was charged in a criminal complaint with allegedly issuing or acquiring fictitious loans with his Graduate Leverage mutual funds.

Thibeault could not be reached late Friday.

Prosecutors for the US attorney’s office in Massachusetts alleged Thibeault founded his firm while a student at Harvard Business School, where he graduated in 2004. A mutual fund he managed there, GL Beyond Income Fund, had $31 million in assets last January, prosecutors said.

Beth Healy can be reached at beth.healy@globe.com. Follow her on Twitter @HealyBeth.