Hedge funds are a haven for fraud, says detection agency

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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