SEC Sues Two Men For Alleged Investment Scheme

Law360, New York (October 2, 2008, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has sued two men, alleging that they defrauded the now-defunct hedge fund Directors Performance Fund by convincing its investment adviser to invest $25 million in a bank scheme.

In a lawsuit filed Monday in the U.S. District Court for the Northern District of Illinois, the SEC alleges that David Myatt and William Eichengreen violated the anti-fraud provisions of federal securities law.

The complaint alleges that Myatt convinced Directors Financial Group, the hedge fund's investment adviser, to invest $25 million in...
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