NY Post writes: Imagine that a multibillion-dollar hedge
fund is accused of fraud and pays a huge fine to settle with the Securities and
Exchange Commission while its famous founder personally ponies up millions more
to move past the scandal.
No, this is not SAC Capital Advisors, the $14 billion hedge
fund that may face civil charges over an alleged insider-trading scheme. It was Israel “Izzy” Englander’s Millennium
Management, whose $180 million settlement on fraud charges related to market
timing shook the hedge-fund industry in 2005.
Today, Millennium has more money under management than ever
— $17 billion — and boasts an annualized return of 14.45 percent and a
reputation for having the toughest compliance in the industry….
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