Pension Fund Manager Bilks Clients, Arrested Again.
Prominent pension fund manager Alan Bond has been charged with bilking three clients--two pension funds and an investment advisory group--out of $56 million. Over a 16-month period, Bond allegedly made $6.3 million by reallocating profitable trades to his personal account, while crediting unprofitable trades to the accounts of his clients. Bond already is facing an indictment for conspiracy, fraud, and making false statements related to a commission kickback scheme uncovered in...
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