We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

SEC Charges Hedge Fund With Overstating Assets

Law360 (February 19, 2009, 12:00 AM EST) -- The U.S. Securities and Exchange Commission filed a lawsuit Wednesday against hedge fund Paramount Partners LP, alleging that it overstated its assets to investors and its general partner steered investor money into personal accounts.

John W. Lawton; his hedge fund, Paramount Partners; and Crossroad Capital Management LLC, Paramount's general partner, as recently as this month told investors that Paramount had approximately $17 million under management, according to a complaint filed in U.S. District Court for the District of Minnesota.

In reality, four investment banks that housed...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.