In a September 1 letter to clients, Hennessee Group founder
Lee Hennessee and her husband Charles Gradante sought to
clarify the advisory firm's fees and payment options, which
became controversial in the wake of the scandal surrounding
failed Bayou Management.
Hennessee, which advised clients to invest in Bayou and was
reportedly paid by it, believes its procedures have recently
been mischaracterized in the press. The letter also seeks to
update clients on Bayou and the steps Hennessee has...