Societe Generale, Weston Accused Of Mismanaging $100M Fund

Law360, New York (December 11, 2012, 5:40 PM EST) -- Chamonix Investment Corp. and a number of investor funds sued Societe Generale Private Banking Suisse SA and Weston Capital Asset Management LLC in New York Supreme Court on Monday, alleging self-dealing and gross mismanagement of a $100 million investment fund that resulted in shareholder losses.

The complaint alleges Weston Capital converted over $17 million of investments in the reputable Tewksbury Investment Fund Ltd. to unsecured promissory notes issued by Swartz IP Services Group Inc. that proved worthless, and that the fund's custodian Societe Generale failed to...
To view the full article, register now.