$ 98.6 million record setting penalty for Hedge Fund

The Bristish-based asset manager Lewis Chester got slapped by a hefty $ 98,6 million penalty by american regulators. It represents the biggest slap any non-american fund manager has withstood. As a matter of fact it is the highest penalty any non-american firm has ever been fined, in any industry. Allegedly the Pentagon Capital Management firm traded later (in the day) than they were allowed to do according to their framework.

Hedge fund manager Lewis Chester has already stated that he is already moving forward with an appeal.