Halls of Justice

A suburban New York hedge fund manager accused of defrauding investors of at least $150 million has been indicted on federal securities and investment adviser fraud charges.

A fund of hedge funds shop that’s already been hit with a pair of class-action lawsuits over losses in the Bernard Madoff scandal is closings its flagship funds.

The fourth man convicted in the Bayou Group hedge fund fraud case was sentenced to almost two years in prison this week.

As the investigation into an alleged kickback scheme at New York State’s pension plan, the Empire State is barring the use of placement agents.

The private equity firm founded by President Barack Obama’s car czar finds itself at the center of a second probe into its use of so-called placement agents to win business from public pension funds.

A Delaware judge has given two sets of opponents of Steel Partners’ plan to list its flagship hedge fund the right to work together to derail the hedge fund’s bid.

Two more hedge fund firms have been sued by investors over losses in the Bernard Madoff scandal.

The Hennessee Group, the alternative investments adviser and hedge fund index provider, has settled charges of due diligence failures in recommending a fraudulent hedge fund to its clients.

New York-based Hennessee and principal Charles Gradante “did not perform key elements of the due diligence that they had represented they would conduct prior to recommending investments in the Bayou hedge funds,” the Securities and Exchange Commission alleged.

A private equity adviser caught up in the New York pension kickback scandal has found itself on the outs with another public fund.

In the wake of a New York corruption scandal, The Carlyle Group will stop using so-called “finders” to drum up business from public pension funds.