DOJ Wants SEC To Yield To Criminal Hedge Fund Fraud Case

Law360, New York (December 1, 2016, 7:48 PM EST) -- U.S. Attorney Preet Bharara urged a New York federal court Wednesday to freeze discovery in the civil case against a hedge fund founder alleged to have spent part of one investor’s $2 million stake on his rent and car payments, saying the related criminal trial should proceed first.

Matrix Capital Markets LLC principal Nicholas Mitsakos, 57, is facing dual cases launched by the U.S. Securities and Exchange Commission and the U.S. Department of Justice that allege he committed securities and wire fraud by creating a fund...
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