Buffalo Has Hedge Fund Frauds, Too


What’s more, the snowed-in former metropolis’ hedge-fund scams look an awful lot like everyone else’s.

To hear the Securities and Exchange Commission tell it, local investment adviser Timothy S. Dembski lost nearly $4 million of his client’s money by investing it in a hedge fund run by an old friend who knew nothing about hedge funds and whose financial experience didn’t go much beyond collecting on bad car loans.

SEC files fraud charges against 2 Buffalo investment advisers [Buffalo News]