Fund manager charged for alleged $50 million Ponzi scheme
WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission said on Thursday it has charged a Philadelphia investment fund manager and firm for an alleged $50 million Ponzi scheme.
Highlights:
* Accuse Joseph Forte obtained an estimated $50 million through sales of securities in the form of limited partnership interests in his firm.
* Say federal judge issued order freezing Forte's assets and ordering an accounting.
(Reporting by Julie Vorman; Washington desk for company news)
© Thomson Reuters 2009 All rights reserved
Citadel enters the fray
Kenneth Griffin's powerful hedge fund has waded into the case of Goldman Sachs' purloined computer code, suing three of its former employees for setting up Teza Technologies. Full Article | Full Coverage
