The U.S. District Court for the Northern District of Illinois has ordered John M. Fife, a principal of Clarion Management, a hedge fund based in Chicago, to pay more than $500,000 in fees and disgorgement for having allegedly placed illegal market timing trades in 2002 and 2003. The court also barred him from working at an investment advisory firm for 18 months.

The judgment follows the Securities and Exchange Commission’s initial suit against Fife and Clarion in January.

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