SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Pastimes : Clown-Free Zone... sorry, no clowns allowed
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: orkrious who wrote (258603)9/3/2003 9:54:33 AM
From: ild  Read Replies (1) of 436258
 
Spitzer Says Probe Finds Hedge, Mutual Fund Price Manipulation
Sept. 3 (Bloomberg) -- New York Attorney General Eliot Spitzer said some U.S. hedge and mutual funds engaged in ``widespread illegal trading schemes'' that may have cost ordinary investors billions of dollars.

One hedge fund and its managers agreed to make restitution of $30 million in illegal profits and pay a $10 million fine, according to a press release distributed by Spitzer's office.

Spitzer is investigating sales and trading practices at mutual and hedge funds and will hold a news conference today at noon.

``The full extent of this complicated fraud is not yet known'' Spitzer said in the statement. ``The mutual fund industry operates on a double standard. Certain companies and individuals have been given the opportunity to manipulate the system.''

Last Updated: September 3, 2003 09:10 EDT
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News