Hedge Fund Boss Admitted Fraud To FBI, Suit Claims

Law360, New York (January 25, 2007, 12:00 AM EST) -- Federal regulators have asked a court to impose an emergency restraining order on a Georgia-based hedge fund after its chief allegedly surrendered to the FBI and confessed to fraud.

The Commodity Futures Trading Commission filed a motion Wednesday for an injunction prohibiting Renaissance Asset Management (RAM) from moving assets and destroying or hiding records from investigators.

The CFTC has sued RAM over claims the commodity pool operator issued false financial statements to investors in two annual reports.

The suit, filed this week in the U.S District...
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