2 Hedge Funds Accused Of Running 'Madoff-Like' Scheme

Law360, New York (October 5, 2011, 3:56 PM EDT) -- More than two dozen investors alleged Tuesday that the managers of two Portland, Ore.-based hedge funds ran a “Madoff-like” Ponzi scheme that may have bilked investors out of at least $5 million.

In a complaint filed in Oregon state court, the investors allege Yusaf Jawed, the head of Grifphon Asset Management, and Lyman J. Bruhn, who ran Sasquatch Capital Partners LLC, operated “black box” hedge funds that provided no information to investors about how their money was invested. Rather than put their money into stocks and...
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.