Wednesday, August 31, 2005
The Wall Street Journal here reports that "Arizona state authorities [ ] seized more than $101 million in assets from a bank account that may have held money from Bayou Management LLC, a hedge-fund management firm currently under investigation for fraud." The question now becomes, who is entitled to this money? The choices include Bayou as well as investors. It doesn't look like there will be a check in the mail to anyone until some of these issues are resolved.