Acquitted Hedge Fund Exec's Legal Fees Bid Deemed Untimely

Law360, New York (November 28, 2012, 6:27 PM EST) -- A former Lancer Management Group LLC executive acquitted on charges of aiding a $200 million investment scam lost his bid for approximately $500,000 in attorneys' fees on Wednesday after a Florida federal judge said he made the request too late.

Martin Garvey, who was acquitted in 2011 of all charges related to the scheme, can't recoup his legal fees because he issued his request after a deadline established by the receiver overseeing the dispersal of funds from the hedge fund, U.S. District Judge Kenneth A. Marra said.

"Garvey had failed to file a contingent proof of claim by the claims deadlines...

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