Copper River takes on ex-SEC investigator


In an unorthodox move befitting its reputation as a savvy short-seller, Copper River Management has hired Richard Sauer, a former fraud investigator at the U.S. Securities and Exchange Commission, as a member of its investment team.

Sauer spent 13 years as an attorney in the SEC's enforcement division, investigating and analyzing frauds and accounting issues, and the short-biased hedge fund firm plans to tap Sauer's experience not in a legal role but as an investigator and researcher.

While at the SEC, Sauer worked on cases against AremisSoft and ACLN, two frauds that Copper River had shorted and brought to the