Denver Post – A federal judge in Denver has ordered a Tennessee money manager – accused of fraud by federal regulators – to pay $1 million to an Evergreen- based hedge fund.<\/p>\n
U.S. District Judge Richard Matsch last week awarded triple damages to the Cascade Fund, a small hedge fund that lost $320,000 of a $1 million investment it put under the management of Jon E. Hankins of Knoxville, Tenn.<\/span><\/p>\n Cascade sued Hankins in June, claiming he misled the fund about the performance of his other investments.<\/span><\/p>\n Cascade said Hankins lost its money by betting against Google’s stock in April and May and covered up the losses. Hankins sold Google shares short – a way of profiting if a stock’s value declines. But the shares rose more than 50 percent during the two months.<\/span><\/p>\n