Ex-Lancer Group Hedge Fund Manager Indicted

Law360, New York (February 20, 2008, 12:00 AM EST) -- The director of the now-defunct Lancer Group hedge funds and four other individuals have been indicted on charges of swindling investors out of more than $200 million.

The U.S. Department of Justice said the indictment, which was unsealed Tuesday in Miami, targeted former funds manager Michael Lauer, two co-owners of management firms that oversaw the hedge funds, and two men who had financial stakes in shell operations in which the hedge funds invested.

The indictment alleged that from October 1999 to July 2003, they artificially boosted...
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