This matter arises out of the collapse of certain hedge funds as the result of a fraudulent valuation scheme. Specifically, defendant Beacon Hill was formed in January 1997 by the four individual defendants as a manager of hedge funds investing in mortgage-backed and related securities. In that connection, Beacon Hill was the manager of a so-called Master Fund, which held the investment assets of, and conducted trading for, three feeder hedge funds. Pursuant to an investment...
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