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SEC Goes After Hedge Fund Operator

MINNEAPOLIS (CN) - John W. Lawton fraudulently induced more than 50 people to put $9 million into his hedge fund, Paramount Partners, which he managed through his company Crossroad Capital Management, the SEC says in Federal Court.

Lawton, 34, moved from Minneapolis to San Francisco a year ago, the SEC says. It says he induced investments by lying about the assets and performance of his hedge fund.

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