The Securities and Exchange Commission filed fraud charges against the head of several San Francisco-based hedge funds, accusing him of misappropriating millions of dollars from investors nationwide, including senior citizens. According to the Commission, Edward Ehee, 43, of Oakland, defrauded investors in the Compass West Fund, Viper Founders Fund, and Viper Investments, diverting much of the money towards mortgage and car payments, vacations, and personal bank accounts.
http://www.sec.gov/news/press/2006/2006-189.htm
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