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U.S. jury convicts ex-Millennium Global manager of fraud

Reuters – A U.S. jury on Wednesday found former London-based portfolio manager Michael Balboa guilty of fraud over a scheme to inflate his hedge fund’s assets and management fees by manipulating the value of Nigerian debt.

Jurors issued their verdict on the former Millennium Global Investments Ltd manager after less than four hours of deliberation, following a two-week trial before U.S. District Judge Paul Crotty in Manhattan.

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