$3M Insurance Deal OK'd In Lydia Capital Fraud Case

Law360, New York (August 3, 2009, 5:27 PM EDT) -- A judge has given the green light to a $3 million settlement related to disputed life insurance policies in a case brought by the U.S. Securities and Exchange Commission accusing hedge fund operator Lydia Capital LLC of being involved in a scheme that cost investors at least $15 million.

Judge Richard G. Stearns of the U.S. District Court for the District of Massachusetts on Friday approved the settlement arranged by Lydia Capital receiver H. Thomas Moran II to end a dispute over eight life insurance policies...
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