Adviser Loses Appeal In Ohio Workers' Comp Case

Law360, New York (July 14, 2010, 6:37 PM EDT) -- A hedge fund manager convicted of fraud for his role in an investment scheme that cost the Ohio Bureau of Workers' Compensation over $200 million lost his appeal for a new trial Wednesday.

A three-judge panel of the U.S. Court of Appeals for the Sixth Circuit affirmed a 2007 conviction of Mark B. Lay for investment advisory fraud, mail fraud and conspiracy to commit mail and wire fraud.

In 2008, Lay, the former head of the now-defunct hedge fund adviser MDL Capital Management Inc., was sentenced...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.