2 Hedge Funds Accused Of Running 'Madoff-Like' Scheme

Law360, New York (October 5, 2011, 3:56 PM EDT) -- More than two dozen investors alleged Tuesday that the managers of two Portland, Ore.-based hedge funds ran a “Madoff-like” Ponzi scheme that may have bilked investors out of at least $5 million.

In a complaint filed in Oregon state court, the investors allege Yusaf Jawed, the head of Grifphon Asset Management, and Lyman J. Bruhn, who ran Sasquatch Capital Partners LLC, operated “black box” hedge funds that provided no information to investors about how their money was invested. Rather than put their money into stocks and...
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