CFTC Accuses Fund Manager Of Fraud

Law360, New York (April 19, 2007, 12:00 AM EDT) -- The Commodities Futures Trading Commission has jumped into the fray caused by a South Carolina fund manager’s loss of $134 million in investments, filing a lawsuit against Albert Parish alleging misrepresentation of facts and misappropriation of funds.

The CFTC on Tuesday filed a suit against Parish, a professor at Charleston Southern University and founder of Parish Economics LLC, claiming that he violated provisions of the Commodity Exchange Act by making false statements about a fund that invested in commodities and stock futures and options.

Parish founded...
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