SEC Wins $1M Judgment Against Phony Hedge Fund Manager

Law360, New York (February 8, 2016, 2:13 PM EST) -- A New York federal judge said Monday he would grant the U.S. Securities and Exchange Commission's request for a $1 million judgment against an imprisoned hedge fund manager who allegedly stole money from investors before faking his own death.

The SEC has prevailed in its suit accusing a hedge fund manager of stealing money from investors — after which the man allegedly faked his own death. (Credit: AP) During a hearing in Manhattan court, U.S. District Judge Richard Sullivan said he planned to issue a default judgment against Moazzam Malik, who is currently serving a five to 15 year prison sentence...

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