China Fund Manager To Pay $14M Over Fraud, Misconduct

Law360, New York (May 10, 2012, 6:09 PM EDT) -- A Scotland-based fund management group on Thursday agreed to pay $14 million to settle allegations by the U.S. Securities and Exchange Commission and British regulators that it tried to rescue a hedge fund by deceptively steering a client into an ill-advised $22.8 million investment.

Martin Currie will pay a total of $14 million to the SEC and the United Kingdom's Financial Services Authority over a scheme to bolster its struggling Martin Currie China Hedge Fund LP by advising its client The China Fund Inc., a U.S. publicly...
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