At a recent Euromoney conferenceStanley Fink, Chief Executive of the alternative investment giant, the Man Group stood up for the European hedge fund industry and directed criticism at its U.S. counterparts. Fink observed that in contrast to the European market, poor regulation and lack of independent oversight are behind spate of U.S. hedge fund frauds:

"The checks and balances weren't there ... There are a number of fraudsters there who simply use hedge fund vehicles ... as a method to extract money from their victims and our industry gets tarred with the same brush."

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-- MDT