Fund Manager Hit With Early Injunction In Fraud Suit

Law360, New York (February 2, 2009, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has secured a preliminary injunction against a Texas hedge fund manager accused of running a Ponzi scheme and embezzling millions of dollars in investors' money.

Judge Sam Cummings of the U.S. District Court for the Northern District of Texas issued the preliminary injunction Friday against Rod Cameron Stringer, prohibiting the former used car salesman and bail bondsman from tapping any assets from his hedge fund, RCS Hedge Fund.

The SEC had filed its unopposed motion for an injunction the same...
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