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(Peter Power/The Globe and Mail)

OSC accuses hedge fund executives of fraud

The Ontario Securities Commission has accused two Toronto-based hedge fund executives of fraud over a related-party business deal.

The OSC alleged Quadrexx Asset Management Inc. and its two leaders, Miklos Nagy and Tony Sanfelice, committed fraud by inflating the value of a hedge fund information company they owned during a deal that saw the firm purchased by a related company.