2 Hedge Fund Managers Fined $111 Million Each For Being Empty Suits

``Long story short, they were fined for sitting on the board of their relative's hedge fund and doing nothing. They were empty suits who never attended a board meeting and signed documents without reading them, according to the Cayman Islands court judge who ruled on the case... The hedge fund they managed was Weavering Macro Fixed Income Fund. The fund was founded by Swedish-born financier, Magnus Peterson, and incorporated in April 2003.''