SEC files complaint against Chicago manager

Fri Feb 2, 2007

A Chicago hedge fund manager has been charged in a fraudulent scheme to purchase variable annuity contracts with the purpose of engaging in improper market timing.

John Fife, president of the now-defunct Clarion Management, purchased annuity contracts from Lincoln National Life Insurance through at least 17 accounts created with the purpose of making more trades than the company normally allows,...

ISSN: 2151-1845 / CDC10004H

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