Fund Manager Charged With Multimillion-Dollar Scam

Law360, New York (January 21, 2009, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has taken a Texas hedge fund manager to court for allegedly embezzling millions of dollars in investors' money to live the high life of racing horses, luxury boats and an office swimming pool.

The SEC filed a civil complaint Tuesday against RCS Hedge Fund and its principal, former bail bondsman and used car salesman Rod Cameron Stringer, in the U.S. District Court for the Northern District of Texas, claiming Stringer is still running his Ponzi scheme and has already defrauded...
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