Receiver For Lancer Fraud Settles With Insider Consultant

Law360, New York (February 7, 2012, 4:38 PM EST) -- The receiver hunting for recoveries from the Lancer Management Group LLC investment fraud reached a settlement in Florida on Tuesday with a consultant accused of coaxing Lancer funds to invest with companies in which he had personal interests.

Marty Steinberg, the receiver for Lancer Management, Lancer Offshore Inc., The OmniFund Ltd. and other funds, filed a motion to approve a settlement and cooperation agreement with Robert D. Maum, whom the receiver sued along with several other insiders for aiding and abetting breach of fiduciary duty, unjust...
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