Hedge Fund Founder Admits Guilt In $10M Fraud

Law360, New York (December 15, 2006, 12:00 AM EST) -- A founder of two bankrupt hedge funds pled guilty in federal court Friday to conspiring to defraud investors of over $10 million.

James G. Marquez, one of the founders of the hedge funds Bayou Fund LLC and Bayou Fund Ltd. and their investment advisor and broker-dealer subsidiaries, admitted to defrauding investors from July 1996 through October 10, 2001.

Michael Garcia, the U.S. Attorney for the Southern District of New York, said Marquez pled guilty to conspiracy to defraud investors and faces up to five years in...
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