Silicon Valley hedge fund manager Albert Hu was charged Wednesday by the U.S. Attorney and the SEC with duping investors out of millions of dollars. Part of Hu's scheme, authorities claim, was to impress investors by telling them that his funds were represented by prominent law firms. But authorities say it was all a ruse -- the law firms had nothing to do with the scheme cooked up by Hu, who allegedly promised big returns and then wouldn't return the money when investors got suspicious.
March 19, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Law firms are happy to get just about any client these days — except if it’s an alleged international con man who’s just pretending to be a client.
Albert Hu, a Silicon Valley hedge fund manager, was arrested in Hong Kong and on Wednesday was charged by the U.S. Attorney and the Securities and Exchange Commission with duping investors out of millions of dollars.
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