Accused Fund Fraudster Balboa Can Ditch Ankle Bracelet

Law360, New York (June 19, 2012, 7:07 PM EDT) -- A New York federal judge on Tuesday said former hedge fund manager Michael Balboa, who has been accused of overvaluing the now-defunct $850 million hedge fund he managed, won't have to wear an ankle monitor any longer.

Balboa, who allegedly conspired to mislead accountants about the value of Nigerian investments held by the Millennium Global Emerging Credit Fund, will no longer have to sport an electronic ankle bracelet or be subject to a nighttime curfew, U.S. District Judge Paul A. Crotty said at a hearing in...
To view the full article, register now.