$34M Hedge Fund Really A Ponzi Scheme: CFTC

Law360, New York (February 10, 2009, 12:00 AM EST) -- The U.S. Commodity Futures Trading Commission has said that Phidippides Capital Management LLC hid losses and raked in fees from a private hedge fund that was really a $34 million Ponzi scheme, a claim that comes amid a surge in CFTC complaints aimed at such schemes.

The CFTC filed its complaint on Monday in the U.S. District Court for the Western District of Oklahoma, naming managing member Mark Trimble and Oklahoma City-based Phidippides Capital Management as defendants and Phidippides Capital LP as a relief defendant....
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