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Hedge fund Pentagon Capital Management’s fine is increased to $100m

Telegraph – Pentagon Capital Management, which was run by Lewis Chester, a contemporary of David Cameron at Oxford University, was ordered in February by US District Judge Robert Sweet to pay $76.8m after the fund was found to have engaged in late trading in mutual funds between 1999 and 2003.

That amount was increased by $21.7m in “pre-judgment interest”, according to a court ruling by Judge Sweet last week.

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