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Hedgetalk
by Alex Akesson on May 21, 2008

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The investigation also turned up a brokerage statement that showed the fund had $1,625 in its account in April. Regan had said he ran $15 million. The regulator said investors who entrusted their savings to Regan feared the money is now lost.
Investigators found River Stream client data thrown into a dumpster near an empty office where Regan said he worked. Wiliam Galvin, whose job includes protecting investors in Massachusetts, has waged aggressive campaigns against anyone caught trying to cheat investors.
Permalink: More Hedge Fund Fraud
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/124191
Mr Wong
Vote for More Hedge Fund Fraud:
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Rating: 8.00 out of 4 vote(s) cast.
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Response from:
Anonymous
(08/20/08 7:54pm)
So, hedge funds feel entitled to be unregistered, unregulated, and allowed to transfer millions and even billions of dollars without auditing and oversight. Since hedge fund managers insist that laws already exist to prevent fraud, and that the industry should be self regulating, will those same hedge fund managers now hunkered down in exclusive estates behind security gates and with their own personal security guards, be willing to throw open their gates and park their Lamborghinis curbside without valet protection since there are already laws against crime? These f@$&%$s claim to be responsible for generating capital and liquidity that the economy depends on. BULL SHIT. These guys have practically brought down the world economy. The resultant hardships to millions of ordinary working people is horrendous. Why do these hedge fund managers and investment bankers still have so much power and influence? These f$%*^s will now start to make money off of the very misery that they have caused. It almost makes one start to believe all those conspiracy theories. These f@#$%$%s have got to go.
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