Hedge Funds

Hedge fund fraud filings accelerate in late '05

by

The final days of 2005 saw a flurry of fraud filings against hedge funds by regulators as well as new developments in ongoing cases. Here were the highlights:

·

On December 21, Scott Sacane of Durus Capital Management pleaded guilty in federal court in Connecticut to violating the Investment Advisors Act of 1940 and manipulating the price of two bio-tech stocks between November 2002 and July 2003. He also acknowledged trying to conceal those portfolio holdings from regulators. Sacane faces up to five years in jail and $250,000 in fines. Sentencing is slated for late April.
 

 

· The U.S. Securities and

Log-in to read this content

Log-in

Subscribe now or start a trial to get all the latest on hedge funds.

Subscribe now or start a trial to view this page.

Why subscribe?

Call us to enquire about subscriptions

+44 (0)20 7779 7339