SEC Takes Beleaguered Hedge Fund To Court

Law360, New York (February 28, 2006, 12:00 AM EST) -- The Securities and Exchange Commission has filed a lawsuit against Kirk S. Wright, the missing money manager at the center of a rapidly unfolding hedge fund scandal.

The SEC accuses the Atlanta-based International Management Associates LLC, the hedge fund that Wright manages, of engaging in fraudulent activity related to the millions of dollars the firm is believed to have amassed from investors.

As of Monday authorities were still searching for Wright—who has been an elusive figure up until this point in the scandal.

The complaint alleges...
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