AUS Canada

This article is a little bit off topic, but I just got back from Chicago and have been following the news in the states so I wanted to write about this article: Michael Lauer, the hedge fund manager who has been on trial has been found guilty by a Miami U.S. District Court Judge Kenneth A. Marra of defrauding investors during the years of 1999 and 2002 totaling over $500 million dollars. He must not have had the best Attorney in the world.

Judge Marra found in a 67 page order that Lauer had manipulated the prices of seven securities. These were a large part of the funds portfolios, which Lauer did not provide a basis for the exceedingly high valuations. Judge Marra found he also lied to investors about the hedge funds holdings also. As the head of the Lancer Management Group and Lancer Management Group II, his actions were premeditated and resulted in the loss of millions of investor’s funds. I realize that no one really suffered personal injury but it is emotionally painful to lose funds like that.

A ruling has not been given on the amount that Lauer will pay pending a evidentiary hearing and a fine amount decided by the Securities Exchange Commission that must be made within 60 days. By the way if you happen to live in Chicago or the surrounding region and need an elite
Chicago Personal Injury Attorney then may I please suggest the fine Budin Law offices as he is one of the finest Chicago Personal Injury Attorney around that whole area.

The criminal trial for Lauer will begin in April for the charges in the hedge fund and according to his Attorney stated that Lauer will be pleading not guilty and will fight the charges at trial. The Attorney who is representing Lauer is Norman Moscowitz.