Was Lipper "Looking Out for His Friends"?

A new suit cites a series of withdrawals by the financier's friends and family prior to his hedge fund's collapse

Kenneth Lipper, the money manager who lost millions running a hedge fund for the rich and famous, may have been looking out for himself, his family, and at least one friend at others' expense. This allegation is made in a lawsuit filed on Jan. 3 in a federal court in South Carolina by the blind trust of Senator Ernest "Fritz" Hollings (D-S.C.).

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