NY Hedge Fund Manager Hit With Fraud Charges

Law360, New York (May 13, 2011, 3:11 PM EDT) -- New York hedge fund manager Lloyd Barriger is facing securities and mail fraud charges for allegedly lying to investors about the financial health of commercial real estate holdings, according to an indictment made public Friday.

Barriger, who is also facing a civil suit filed Friday in New York federal court by the U.S. Securities and Exchange Commission, allegedly solicited at least $12.6 million from investors between July 2006 and March 2008 by promising returns of as much as 8 percent per year.

But the Gaffken &...
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