Visium Fund Manager Pleads Not Guilty in Fraud Case

A former Visium Asset Management LP portfolio manager pleaded not guilty to federal charges that he lied about the value of securities in his fund’s portfolio to boost the firm’s revenue—and his own bonus (United States v. Lumiereplea entered).

Stefan Lumiere, a portfolio manager for distressed credit at a Visium fund, appeared July 18 before Judge Jed Rakoff of the U.S. District Court for the Southern District of New York. The charges are the latest to grow out of the government’s far-reaching investigation into the hedge fund firm that managed $8 billion at its peak.

“We’re ready to go ...