Hedge Fund Fraud Cases Drawing Scrutiny - Yahoo! News

Hedge Fund Fraud Cases Drawing Scrutiny - Yahoo! News: "Hedge Fund Fraud Cases Drawing Scrutiny

By JOHN CHRISTOFFERSEN, AP Business Writer Sun Sep 11, 3:42 PM ET

STAMFORD, Conn. - The Jewish Federation of Metropolitan Chicago prides itself on international philanthropy and how efficiently and effectively it spends money. But these days the federation is fighting to recover more than $4 million invested in an offshore fund operated by Bayou Securities. Federal authorities say Bayou, a Stamford-based hedge fund, was a fraud."