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More Hedge Fund Fraud

Filed in archive Hedgetalk by Alex Akesson on May 21, 2008

In a HedgeCo story;-William Galvin, Massachusetts' top securities regulator has charged the hedge fund manager of the River Stream Fund with improperly soliciting investors.

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.


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