Hedge fund fraudster to pay $2.78M
Thursday, April 9, 2009 : PermalinkBizjournals.com – A Massachusetts federal court has ordered a British man to pay $2.78 million in restitution, interest and penalties for orchestrating a scheme to defraud more than 60 investors who invested in his phony hedge fund operation based in Boston.
The Securities and Exchange Commission said Wednesday that Glenn Manterfield, a principal at Lydia Capital LLC, was originally charged in April 2007 for allegedly defrauding clients who had invested $34 million in a Lydia Capital fund — the so-called Lydia Capital Alternative Investment Fund.
Tags: alternative investment, boston, british man, capital fund, capital llc, investment-fund, investors, lydia, massachusetts, restitution, securities-and-exchange, securities-and-exchange-commission
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