Cornerstone found guilty of fraud

Fri Nov 16, 2007

New York-based hedge fund Cornerstone Capital Management and its founder, Joseph Profit II, received lifetime injunctions from a Georgia court after the U.S. Commodity Futures Trading Commission charged both with fraud.

The court’s consent order, handed down on Nov. 14, found Profit guilty of falsifying profits in the Icon Fund, a hedge fund...

ISSN: 2151-1845 / CDC10004H

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