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Jack Grynberg, a Colorado-based developer of oil and natural gas, sued hedge- fund manager Florian Homm, saying he defrauded investors by buying penny stocks sold through a brokerage firm he secretly owned.
The suit, filed in U.S. District Court in Denver last week, says Homm and Todd Ficeto each own 50 percent of Hunter World Markets Inc., a Beverly Hills, Calif.-based broker. Hunter World earned a commission when the so-called Pink Sheets stocks were sold to three Absolute Capital Management Holdings Ltd. funds in which Grynberg invested $12 million. Homm managed the funds.
