Nelson Obus

A Cayman Islands hedge fund received some of the proceeds of a securities fraud scheme that brought in $1.3 million, it has been claimed. Wynnefield Small Cap Value Offshore Fund Ltd., which was incorporated in Cayman in 1997 in the Cayman Islands, is a relief defendant in a complaint that was filed by the SEC at the U. S. District Court for the Southern District of New York on April 25, 2006.