Hedge Fund Adviser Ordered To Pay $62M

Law360, New York (May 8, 2009, 12:00 AM EDT) -- The head of two hedge fund adviser groups was ordered by a federal court to shell out more than $62 million after being found liable of fleecing investors of $500 million in a fraudulent scheme.

Judge Kenneth Marra of the U.S. District Court for the Southern District of Florida ruled that Michael Lauer, the head of Lancer Management Group and Lancer Management Group II, must pay $43.6 million of ill-gotten gains and $18.9 million in prejudgment interest, according to the U.S. Securities and Exchange Commission on...
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Case Information

Case Title

Securities Exchange v. Lauer, et al


Case Number

9:03-cv-80612

Court

Florida Southern

Nature of Suit

Securities/Commodities

Judge

Kenneth A. Marra

Date Filed

July 8, 2003

Government Agencies

UK Financial Services

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