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3/04/2008
Hedge Fund Fraudsters Prey on the Faithful
Hedge Fund Fraudsters Prey on the Faithful
Uta-based Thompson Consulting, Inc. managed to lost $60 million dollars of investor money through its pathetic mismanagement of two hedge funds. Already down, deep in the red based on what the SEC has called "a strategy inconsistent with its representations to investors," Thompson's managers went all in on a complex options trade on the Chicago Board Options Exchange. Needless to say, that blew up in their faces, wiping out 100 well intentioned investors. A slew of civil charges are pending against Thompson and fund managers, Kyle Thompson, David Condie and Sherman Warner. We'll see how it goes from here.
Labels: David Condie, Fraud, hedge fund, Kyle Thompson, Sherman Warner, Thompson Consulting
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