{"id":39569,"date":"2013-12-13T06:37:03","date_gmt":"2013-12-13T11:37:03","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=39569"},"modified":"2013-12-13T06:37:03","modified_gmt":"2013-12-13T11:37:03","slug":"hedge-fund-manager-conned-la-retirement-systems-out-of-100-million-report-says","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2013\/hedge-fund-manager-conned-la-retirement-systems-out-of-100-million-report-says.html","title":{"rendered":"Hedge fund manager conned La. retirement systems out of $100 million, report says"},"content":{"rendered":"<p>The Advocate &#8211; A New York hedge fund manager apparently conned three Louisiana retirement systems out of $100 million in an investment scheme that promised high returns with low risk, a court-appointed bankruptcy trustee says in a recent report.<\/p>\n<p>In 2008, trustees of the pension plans \u2014 the New Orleans Firefighters\u2019 Pension and Relief Fund and two statewide funds, the Firefighters\u2019 Retirement System and the Municipal Employees\u2019 Retirement System \u2014 invested the money in the flagship fund of Fletcher Asset Management, which offered a guaranteed 12 percent rate of return. If returns fell below that mark, they were told, the gap would be covered by $50 million put up by a subsidiary of the financial services firm Citco Group Ltd.<\/p>\n<p><a href=\"http:\/\/theadvocate.com\/home\/7828941-125\/hedge-fund-manager-conned-la\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Advocate &#8211; A New York hedge fund manager apparently conned three Louisiana retirement systems out of $100 million in an investment scheme that promised high returns with low risk, a court-appointed bankruptcy trustee says in a recent report. In [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-39569","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/39569","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=39569"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/39569\/revisions"}],"predecessor-version":[{"id":39570,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/39569\/revisions\/39570"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=39569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=39569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=39569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}