Hedge funds are a haven for fraud, says detection agency
serial defrauding has become more commonplace in industry
Hedge fund fraud is a recidivist crime with many fraudulent managers involved in serial defrauding of a string of investors, according to a US fraud detection agency.
Tom Fedorek, senior managing director of Citigate Global Intelligence and Secur- ity told the Marhedge Paris conference in February the industry is a haven for people whose backgrounds would prevent them from working in the mainstream securities industry.
He said it is crucial investors know who they are giving money to, as many
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