Hedge Fund Manager Charged in $100m Fraudulent Scheme with Terminally Ill

[kreslik.news]

The US Securities and Exchange Commission (SEC) today announced fraud charges against a hedge fund manager and his firm for paying terminally ill individuals to use their names on purportedly joint brokerage accounts so he could purchase investments on behalf of his hedge fund and redeem them early by invoking a survivor’s option.

The news comes less than a week after the SEC charged a former football player for running a $10 million fraud scheme where the perpetrators used funds raised from investors to pay for personal expenses and to repay earlier investors.

[b]Join the industry leaders at the Finance Magnates London ... ([url=http://www.financemagnates.com/institutional-forex/regulation/hedge-fund-manager-charged-in-100m-fraudulent-scheme-with-terminally-ill/]read more)