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Mistrial declared in U.S. case against London fund manager

Reuters – A U.S. jury failed to reach a verdict on whether a London-based portfolio manager was criminally responsible for participating in an alleged scheme to overvalue his hedge fund’s assets by $80 million, resulting in a mistrial.

U.S. District Judge Paul Crotty in Manhattan sent jurors home on Tuesday after they were unable to reach agreement on charges against Michael Balboa, a former portfolio manager at Millennium Global Investments Ltd.

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