Lake Dow To Pay $24M For Aurora Fund Fraud

Law360, New York (March 25, 2010, 1:28 PM EDT) -- Lake Dow Capital LLC and principal Ty Edwards have agreed to pay $24 million in restitution and civil penalties for a commodity pool fraud targeted by the U.S. Commodity Futures Trading Commission.

Judge Clarence Cooper of the U.S. District Court for the Northern District of Georgia signed on Tuesday a supplemental consent order resolving the case against the defendants and their Aurora Investment Fund LP.

Following an investigation into documentation irregularities, the CFTC filed a complaint against the defendants in October 2005, accusing Edwards of misrepresenting...
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