Hedge Fund To Plead Guilty To Market Timing

Law360, New York (March 28, 2007, 12:00 AM EDT) -- Hedge fund Beacon Rock Capital LLC faces a maximum $25 million fine after agreeing to plead guilty to securities fraud for its role in a market-timing scam.

If accepted by the court, the plea bargain would make the Portland, Ore.-based hedge fund the first to be criminally convicted of deceptive market timing.

As part of the agreement Beacon Rock has agreed to forfeit $475,905 and testify against others allegedly involved in the four-year scheme.

In court papers filed Tuesday in the U.S. District Court for the...
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