HedgeCo News - Robert L. Duncan, an Atlanta hedge fund manager is being accused of misleading investors. His fund, Seaside Partners Fund LP. is being sued by an Atlanta trust and two investment managers, the Piedmont Family Office Fund LP and West Mountain Partners LP., according to a report by the Wall Street Journal.
Duncan will appear on Friday in Fulton County Superior Court in Atlanta. His clients allege that Duncan had been faking his performance numbers and forging statements since 2006. The clients claim that Duncan confessed his fraud to them in a private meeting.
The Wall Street Journal spoke to the hedge fund manager by phone and Duncan is reported to have said he was trying to work out how to return his clients' money. "I want everyone to have their money back," said Duncan, without answering further questions.
Seaside Partners Fund has approximately $20 million in assets under management and the alleged fraud is considered to reach $4.5 million.
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