The finance chairman for Dan Liljenquist's U.S. Senate campaign resigned Thursday, a day after he was sued by federal regulators over impropriety at a hedge fund he manages.
The Securities and Exchange Commission filed a lawsuit this week, accusing Russell Cannon of artificially inflating the value of assets in his hedge fund, RKC Matador Funds. Cannon's attorney says the charges are untrue.
"Effective immediately, Rusty Cannon has resigned from and will have no further role in our campaign," said Liljenquist's campaign chairwoman, Holly Richardson. "Our thoughts and prayers are with Rusty as he addresses these issues."