Tennessee Red: Knoxville Manager Paying Up for Fraud

Knoxville-based money manager Jon E. Hankins, who currently stands accused by the SEC of fraud in the loss of approximately $20 million of a total $35 million under management. According to the filings, Hankins allegedly misrepresented his track record to lure investors and later tried to cover up his losses. One investor, the Denver-based Cascade Fund, recently won a ruling ordering Hankins to pay it triple damages. In this specific case, Hankins allegedly blew the fund’s money by trying to short Google shares last spring. Ouch!
Evergreen HF Wins $1 Million Suit [Denver Post]

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