Troubled hedge fund Pentagon to fight SEC’s $100m fine

Telegraph – A contemporary of David Cameron’s at Oxford University, Mr Chester took the dramatic step after his hedge fund, Pentagon Capital Management, was fined $98.5m earlier this year for allegedly engaging in late trading in mutual funds between 1999 and 2003.

Begbies Traynor, which was appointed administrator, has thrown its weight behind an appeal lodged against the ruling by Pentagon. The UK accountancy group said there were “substantial grounds for appeal”, according to documents filed at Companies House.

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