Hedge Funds

CFTC charges NY fund, founder with fraud


The U.S. Commodity Futures Trading Commission has alleged that Linuxor Asset Management, a New York hedge fund, and its principal, Abbas Shah, defrauded investors by misrepresenting the value of the fund and failing to provide required periodic statements to fund investors. Linuxor and Shah were also charged with failure to send required annual reports in a timely fashion to the National Futures Association.

The CFTC complaint specifically alleges that Shah, who managed the Linuxor Global Macro Fund and acted as its trading adviser, sent out at least two misleading e-mails to fund investors materially misrepresenting fund assets. The e-mails,