{"id":8700,"date":"2008-09-25T00:00:00","date_gmt":"2008-09-25T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"sec-advances-pair-of-hedge-fund-cases","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2008\/sec-advances-pair-of-hedge-fund-cases.html","title":{"rendered":"SEC advances pair of hedge fund cases"},"content":{"rendered":"<p><span class=\"lingo_region\"><\/p>\n<p>Forbes &#8211; A federal judge in Florida ruled Wednesday that the head of two hedge funds deceived investors about the funds&#8217; holdings. Elsewhere, federal regulators accused a California investment adviser of making tainted recommendations to clients.<\/p>\n<p>In the Florida case, U.S. District Judge Kenneth Marra ruled that Michael Lauer, the head of Connecticut-based hedge funds Lancer Management Group and Lancer Management Group II, engaged in a fraud that cost investors about $500 million, according to the Securities and Exchange Commission.<\/p>\n<p>Marra granted the SEC&#8217;s request for summary judgment against Lauer, finding that he overstated the hedge funds&#8217; values from 1999 to 2002, manipulated the prices of seven securities that were an important part of the portfolios, and deceived investors about the funds&#8217; holdings by providing them with fake financial statements.<\/p>\n<p><\/span><strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.forbes.com\/feeds\/ap\/2008\/09\/24\/ap5468003.html\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Forbes &#8211; A federal judge in Florida ruled Wednesday that the head of two hedge funds deceived investors about the funds&#8217; holdings. Elsewhere, federal regulators accused a California investment adviser of making tainted recommendations to clients. In the Florida case, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[577,934,526,2796,509,18,44,1857,83,2131,20,34,588,2845],"class_list":["post-8700","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-6-million","tag-audits","tag-contention","tag-dealer-operations","tag-federal-reserve","tag-investor-protections","tag-invoices","tag-liquidators","tag-medallion","tag-misrepresentation","tag-new-marketplace","tag-news-press","tag-palm-beach","tag-r-alexander"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8700","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8700"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8700\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}