From Reuters: A North Carolina hedge fund
manager used a personal post-office box and forged bank statements to hide his
theft of about $6 million over a seven-year period, U.S. regulators and prosecutors
said on Monday.
James Shepherd, who ran a commodity fund that traded
contracts at CME Group and IntercontinentalExchange Inc, was charged with the
fraud in federal court in Charlotte
on Monday. In a related action, the Commodity Futures Trading Commission sued
Shepherd for fraud and misuse of customer funds…. Shepherd's alleged swindle
lays bare the ongoing challenges of policing the vast hedge fund and commodity
pool industry, much of which has come under additional regulation since January
through the National Futures Association (NFA) trade group….
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