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Strategies & Market Trends : Moomin Valley (formerly Troll-free Zone)

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To: Moominoid who wrote (2778)	3/21/2007 4:38:23 PM
From: RealMuLan	Read Replies (1) of 2852

Hedge funds market timing trade mutual funds<g> Beacon Rock faces market timing charges investmentnews.com ... Some of the practices included creating and using multiple account numbers and other identifiers, structuring mutual fund purchases to remain under certain perceived thresholds, and misrepresenting the hedge fund's trading strategy when directly confronted by the mutual funds, the statement said. "These defendants would not have been able to make the money that they did on the trades had they not represented themselves to the mutual funds," said Mr. Meehan, in the statement. The statement said Beacon Rock made more than 26,000 market-timing trades, while Mr. Gerbasio, earned about $215,000 from them, it added. If convicted, Beacon Rock faces a maximum $25 million fine and Mr. Gerbasio a maximum of 20 years in jail, a $5 million fine.

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