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Category Archives: Hedge Fund Fraud

Harbinger’s Former CEO Fined For Assisting Hedge Fund Scheme

New York (Hedgeco.Net) – The former chief operating officer at  Capital Partners LLC has agreed to settle charges that he assisted a scheme by the firm and its owner Philip A. Falcone to misappropriate millions of dollars from a hedge […]

Morgan Stanley Fined $275 Million For Inappropriate RMBS Offerings

New York (HedgeCo.Net) – Three Morgan Stanley entities have been charged by the SEC for misleading investors in a pair of residential mortgage-backed securities (RMBS) securitizations that the firms underwrote, sponsored, and issued. Morgan Stanley agreed to settle the charges […]

Senate: Hedge Funds Used “Basket Options” To Dodge Taxes

New York (HedgeCo.Net) – Over a dozen hedge funds are accused of misusing a complex financial structure to claim billions of dollars in unjustified tax savings and to avoid leverage limits that protect the financial system from risky debt, a Senate […]

Louisiana Hedge Fund Manager Pleads Guilty To Fraud

New York (HedgeCo.Net) – A hedge fund manager has pleaded guilty to multiple counts of mail fraud based on his executing a $13 million investment fraud scheme that included victims in Louisiana, Mississippi, Texas and Florida, The Times-Picayune reports. He is scheduled […]

Citigroup To Pay $7 Billion In Sub-Prime Mortgage Settlement

New York (HedgeCo.Net) - Citigroup has agreed to pay approximately $7 billion for its part in the financial crisis of 2008, the WSJ reports. Citigroup is accused of downplaying the risks of sub-prime mortgages when packaging them selling them to hedge funds, […]

Two Executives and A Hedge Fund Portfolio Manager Sentenced To Federal Prison

New York (HedgeCo.Net) – Eric M. Martin, Mark Megalli, and Richard T. Posey have been sentenced to federal prison for their roles in a multi-million-dollar insider trading conspiracy involving childrens clothing company Carter’s, Inc. stock. Mark Megalli worked at New […]

Investors Told of Class Action Against Hedge Fund OCH-ZIFF

New York (Hedge Co.Net) –  A class action lawsuit is taking place on behalf of investors in hedge fund Och-Ziff Capital Management Group LLC securities between February 9, 2012 and April 25, 2014. The complaint alleges that throughout the Class […]

Hedge Fund Charged With Manipulating Futures Contract Prices

New York (HedgeCo.Net)  -  Federal Judge Analisa Torres has rejected arguments put forward by a hedge fund-like firm and cleared the way for a lawsuit filed by the FTC in New York, Reuters reports. The CFTC claims that Donald R. Wilson […]

Private Equity, Hedge Funds Warned Of “Pay-to-Play” Violations

New York (HedgeCo.Net) – Private equity firm TL Ventures has agreed to agreed to settle SEC charges by paying nearly $300,000 in a SEC case where the firm is charged with continuing to receive advisory fees from the city and […]

Hedge Fund Manager Balboa Gets 4 Years In Prison

New York (HedgeCo.Net) - A  portfolio manager for the now collapsed hedge fund Millennium Global Investments has been sentenced to 4 years in prison and 3 years of supervised release, The Wall Street Journal reports. Michael Balboa, a London-based hedge fund manager, was […]

More Than One Hedge Fund Hacked In Sophisticated Cybercrimewave

New York (HedgeCo.Net) – An unnamed hedge fund was attacked by cybercriminals in 2013, causing them to lose millions of dollars and disrupting the firm’s high-speed trading, CNBC reports. Tech company BAE Systems reported the hack, saying “It’s pretty amazing, the […]

SAC Affiliate Settles SEC Insider Trading Charges For $600 Million

New York (HedgeCo.Net) – The US courts have approved a $600 million fine to settle SEC charges that hedge fund advisory firm CR Intrinsic Investors participated in an insider trading scheme involving a clinical trial for an Alzheimer’s drug, Reuters reports. […]

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