Hedge Funds

Amended Beacon Hill suit targets principals and wives

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Just when you thought you had heard everything about Beacon Hill Asset Management's alleged $300 million fraud, the Securities and Exchange Commission revised its complaint to reveal new twists and turns in the ongoing legal saga.

A year and a half after filing its original complaint against Beacon Hill Asset Management, the Securities and Exchange Commission on June 15 announced that it amended the suit to extend fraud charges to former principals of the New Jersey-based hedge fund group. According to its amended suit, the SEC is going after several principals for allegedly liquidating an account in September 2002