30 April 2008
Canada’s National Post reports that the FBI is now warning of hedge fund fraud (”FBI Warns of Hedge Fund Fraud“). But in actuality, FBI Director Robert Meuller gave a 2,000 word speech last week in which “hedge fund” appeared only once - after a lengthy discussion corporate fraud, public corruption, insider trading, mortgage fraud and Conrad Black. The one reference to hedge funds…
“These investigations may well lead to other instances of fraud, from investment banks and private equity firms to hedge funds.”
…Not quite the “warning” trumpted by the Post.
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