Hedge Fund Settles Petters Lawsuit

Feb 27 2014 | 12:39pm ET

A defunct hedge fund has agreed to pay $7.5 million to settle its involvement in the Thomas Petters Ponzi scheme.

Vicis Capital and Petters receiver Douglas Kelley struck the deal in mediation. U.S. District Judge Ann Montgomery in Minneapolis signed off on it Tuesday.

Kelley had filed a bankruptcy clawback lawsuit against Vicis, which closed its doors in 2010.

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