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Haidar Fund Group Settles Market-Timing Case

Law360 (July 6, 2007, 12:00 AM EDT) -- Two Haidar Capital hedge fund managers and their owner have reached a deal with the U.S. Securities and Exchange Commission to pay $4.58 million to resolve allegations that they took part in a fraudulent scheme to make improper mutual fund trades.

Said N. Haidar and the two unregistered fund managers he controls, Haidar Capital Management LLC and Haidar Capital Advisors LLC, declined to admit or deny the claims, according to the SEC on Friday.

The SEC revealed that from April 2001 to September 2003, the Manhattan-based...
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