UK Hedge Funder To Pay $3M For Alleged $15M Scam

Law360, New York (April 8, 2009, 12:00 AM EDT) -- A U.S. court has ordered British former hedge fund operator Glenn Manterfield to pay nearly $3 million in disgorgement and penalties for allegedly running a fraudulent hedge fund in Boston that cost investors at least $15 million.

Judge Richard G. Stearns of the U.S. District Court for the District of Massachusetts on Wednesday ordered Manterfield to pay $2.8 million in disgorgement and interest and a civil penalty of $130,000 for deceiving investors about the performance of a hedge fund managed by his advisory firm, Lydia Capital...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.