The U.S. Securities and Exchange Commission has expanded its investigation into troubled hedge fund D.B. Zwirn & Co., now looking for information about how the firm values its assets, according to a report by the Financial Times.
In February, D.B. Zwirn began liquidating its largest hedge fund following redemption requests from clients amounting to more than $2 billion that followed disclosures of improper accounting at the firm.
According to the FT report, some staffers and investors of the firm have received subpoenas. An internal investigation by the firm had revealed improper accounting of expenses and transfers, and the firm