A North Carolina hedge fund manager used a personal post-office box and forged bank statements to hide his theft of about $6 million over a seven-year period, U.S. regulators and prosecutors said on Monday. James Shepherd, who ran a commodity fund that traded contracts at CME Group Inc and IntercontinentalExchange Inc, was charged with the fraud in federal court in Charlotte on Monday. In a related action, the Commodity Futures Trading Commission sued Shepherd for fraud and misuse of customer funds. The charges were reminiscent of a larger scam uncovered last year that was perpetrated by Russell Wasendorf Sr., the founder of Peregrine Financial Group. He used similar tools to steal $215 million from clients over nearly 20 years. More on Reuters here.
