Hedge Fund Paramount's Assets Frozen In Fraud Suit

Law360, New York (July 14, 2009, 12:00 AM EDT) -- A federal judge has frozen the assets of Paramount Partners LP and granted the U.S. Securities and Exchange Commission a permanent injunction in a suit claiming the hedge fund overstated its assets to clients and steered investor money into personal accounts.

Paramount, Crossroad Capital Management LLC and founder John W. Lawton are prohibited from engaging in any scheme, act, or course of business that would violate provisions of federal securities laws and the Advisors Act, according to an order handed down Monday by Judge Anne D....
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