Scandal-ridden Bayou (Domestic) Hedge Funds said Tuesday it filed for Chapter 11 bankruptcy protection and will seek recoveries of $450 million for defrauded investors. Connecticut-based Bayou filed lawsuits against some former investors, accusing them of receiving "fictitious profits" in a scheme to inflate the value of the company's funds. Last year, the former Bayou chief executive and financial head both pleaded guilty to related charges of fraud.
May 31, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Scandal-ridden Bayou (Domestic) Hedge Funds said Tuesday it filed for Chapter 11 bankruptcy protection and will seek recoveries for defrauded investors.
Bayou filed lawsuits against some former investors, accusing them of receiving “fictitious profits” as part of a scheme to inflate the value of the Stamford, Conn.-based company’s funds.
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