New York (HedgeCo.net) – A Colorado Deputy Securities Commissioner has accused Mark Hamilton Yost, a former hedge fund manager from Chicago, with defrauding investors out of approximately $25 million, the Chicago Tribune reports.
The complaint states that the hedge fund manager told investors that the assets in Yost Partnership LP., were $28 million as of the end of 2009, when they were actually less than $18,000, according to the Tribune.
A Denver judge froze Yost’s hedge fund assets after the allegations were also made that investors were paid returns through a bank loan.
Most of the investors are from Yost’s hometown, the paper said. Attempts are being made to recover investors’ losses. The Tribune was unable to receive a comment from the hedge fund manager’s attorney.
Alex Akesson
Editor for HedgeCo.net
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