Stephen Kim dreamed big and stooped low.

Kim lied about his educational background, his industry reputation and his work record to make a name for himself as a hedge fund guru and, when his hedge fund Spyglass Management failed to pan out, Kim just stole from it, pocketing $1.5 million.

But law enforcement has caught up with him.

The SEC is suing Kim in federal court alleging fraud. His hedge fund, according to an SEC lawsuit, held $4.5 million; most of which Kim, a Houston resident, lost with his blundering. He spent what he did not lose, $1.5 million, on himself.

His CMO hedge fund counted on an interest rate climb which never came. That misstep wiped out Spyglass Management, as Kim named his company. He continued his fund, providing misleading performance data, the SEC said.

Kim had lied about having a finance degree from the University of Houston, and failed to reveal he had been fired from a broker-dealer. He depicted himself as a “successful businessman,” the SEC said, when he had been a day trader.