2011-04-28forbes.com

``Eight years after the SEC dubbed Michael Lauer's business"one of the largest hedge fund frauds in the history of the United States" a jury acquitted him of criminal charges. Lauer who founded New York-based Lancer Group was accused by prosecutors in Miami of swindling investors out of $200 million beginning in 1999, but was acquitted of charges today including wire fraud and conspiracy to commit securities fraud... But that's neither here nor there. Today, Lauer walked away a free man (though he was already fined $62 million by the SEC in a civil case) and announced on the courtroom steps that he would return to the hedge fund business.''


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