K Squared Manager Sued For Fraud

Aug 12 2008 | 12:36pm ET

The manager of a New York-based hedge fund shop has been sued by his former partner for fraud.

Chris Kane, who runs K Squared Funds, was accused of fraud, breach of contract, unjust enrichment and bad-faith dealings with his former partner, with whom he split two years ago. According to the suit, filed in Manhattan state court, Kane falsely attributed income to his partner, leaving the latter with the tax bill, HedgeCo reports.

According to his former partner, Kane hid information about the value of the funds from him.

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