Hedge Fund Managers Indicted For $2M Scheme

Law360, New York (October 13, 2006, 12:00 AM EDT) -- The two founders of a failed hedge fund have been indicted for stealing millions from their investors.

Anthony Postiglione and William Lennon founded Fountainhead Fund LP in Oct. 2001, attracting $5.19 million from 17 different investors. The partners also invested their own money in the fund.

In addition to starting the fund itself, Postiglione and Lennon also founded Fountainhead Asset Management LLC, a firm created to act as the general partner of Fountainhead. Postiglione and Lennon named themselves managing partners of FAM, making them fully responsible...
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