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Alternative Market Briefing

Another fund in Zurich may suffer from Petters` fraud
Tuesday, October 28, 2008

From the Opalesque team: Federal prosecutors in Minnesota arrested Thomas Petters earlier this month, on charges of mail and wire fraud, money laundering and obstructing justice. Funds managed by Gottex, (which never invested directly in Petters, but invested in hedge funds which had provided financing to Petters related transactions) suffered some losses. And so did other hedge funds such as Lancelot Investment Management LLC, Interlachen Capital Group and Acorn Capital Group LLC. Apparently, some funds of hedge funds were also affected.

Eventually, Petters Group Worldwide filed for Chap. 11 bankruptcy prote......................

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