Hedge Fund Manager’s Mansions Raided

Jul 2 2009 | 3:51am ET

Two mansions owned by a young hedge fund trader were raided by the Federal Bureau of Investigation yesterday as part of an unidentified investigation.

The two homes, in the Buffalo, N.Y., suburb of Hamburg, are owned by Phantom One Holdings, a Cleveland hedge fund run by Michael Wilson.

The search warrant was sealed, so it is unclear what exactly the FBI is probing. But the 21-year-old hedge fund trader, who bought the properties for $6.3 million last year—the highest price ever paid for homes in Erie County, N.Y., at the time—reportedly lives in one of the homes, and members of his family in the other.

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