A New York District Court last week fined U.K. hedge fund Pentagon Capital Management $98.6M for...

|By:, SA News Editor

A New York District Court last week fined U.K. hedge fund Pentagon Capital Management $98.6M for defrauding U.S. mutual funds of tens of millions of dollars between 1999 and 2003. The fine exceeds the $92.8M civil penalty Raj Rajaratnam has to pay, and is the biggest fine imposed by U.S. regulators on a foreign citizen.