SEC Nails Hedge Fund Head For Massive Fraud

Law360, New York (September 24, 2008, 12:00 AM EDT) -- A federal judge granted summary judgment to the U.S. Securities and Exchange Commission on Thursday in a suit accusing Michael Lauer, a hedge fund adviser, of engaging in a billion-dollar fraud scheme.

Judge Kenneth A. Marra of the U.S. District Court for the Southern District of Florida found that Lauer defrauded investors of hundreds of millions of dollars between 1999 and 2003 while head of Lancer Management Group and Lancer Management Group II, both based in Connecticut.

Lauer carried out an “egregious, pervasive, premeditated” fraud that...
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Case Information

Case Title

Securities Exchange v. Lauer, et al


Case Number

9:03-cv-80612

Court

Florida Southern

Nature of Suit

Securities/Commodities

Judge

Kenneth A. Marra

Date Filed

July 8, 2003

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