Hedge Fund Head Settles SEC Charges

Law360, New York (April 3, 2006, 12:00 AM EDT) -- A hedge fund manager settled U.S. Securities and Exchange Commission allegations Monday that claimed that he made false account statements and manipulated financial records to conceal losses from the short-selling of shares in Google Inc.

Without admitting or denying the charges, Tenet Asset Management LLC Principal Jon Hankins resolved to pay $256,597 in disgorgement of illegal gains and prejudgment interest, as well as $130,000 in civil penalties, amounting to $386,597.

He also agreed to be barred from associating with investment advisers, according to the SEC....
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