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Hennessee Fined for Pushing Bayou Funds

WASHINGTON (CN) - The SEC filed a settled complaint against New York-based Hennessee Group and its principal Charles Gradante for recommending Bayou hedge funds to clients without proper review. About 40 Hennessee clients lost "millions of dollars" in the Bayou frauds, says the SEC, which fined the defendants $815,000 and told them not to do it again.

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