CHICAGO -- Commissioners in Cuyahoga County, Ohio, have shut down the county's local government investment fund in light of revelations about undisclosed investment practices and concern over losses in the fund.

Yesterday, the county began to return principal invested in its Secured Assets Fund Earnings, or SAFE, Fund to its approximately 75 local government investors. The county also hired financial and legal experts to help determine expected financial losses to the county as a result of its exposure in the fund.

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