(Bloomberg) Embattled hedge fund Visium Asset Management will pay more than $10 million to settle a U.S. regulator’s allegations that it illegally profited from former traders’ misconduct, likely closing a sweeping investigation that led to criminal charges against individuals and the collapse of the firm. Visium’s investment returns were inflated from July 2011 to December 2012 because two ex-credit traders relied on phony broker quotes to mismark bond prices, the U.S. Securities and Exchange Commission said in a Tuesday order. Steven Ku, Visium’s former chief financial officer, also agreed to pay $100,000 to settle the agency’s allegations that he failed to supervise the portfolio managers, Christopher Plaford and Stefan Lumiere.
Visium Will Pay $10 Million Over Former Traders’ Misconduct
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