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Category Archives: Hedge Fund Fraud

California Hedge Fund Founder Denied Re-Trial

New York (HedgeCo.Net) – San Francisco hedge fund founder Doug Whitman has been denied a new trial on his insider trading case which earned him two years in jail, the WSJ reports. Whitman was sentenced in January 2013 after a […]

Hedge Fund Manager Fined $840,000

New York (HedgeCo.Net) – Former hedge fund manager Rajarengan “Rengan” Rajaratnam has been ordered to pay more than $840,000 and was warned against committing future violations of the federal securities laws. The SEC filed civil charges in March 2013 against […]

‘Black Diamond’ Ponzi Scheme Leads To Jail For 3 Hedge Fund Managers

New York (HedgeCo.Net) – Three hedge fund managers have been arrested in connection with a $40 million investment fraud conspiracy. Jeffrey Toft of Sioux Fall, S.D., was sentenced to 66 months in prison followed by two years of supervised release. […]

SEC Charges New Jersey-Based Hedge Fund Manager with Insider Trading

New York (HedgeCo.Net) – The Securities and Exchange Commission filed insider trading charges against a New Jersey-based hedge fund manager who allegedly used material, nonpublic information to trade in advance of market-moving news concerning Carter’s Inc. Stephen Slawson, who lives […]

Staten Island Man Charged With Running A Fake Hedge Fund

New York (HedgeCo.net) – Staten Island resident, Anthony Coronati, an investment adviser to a fictitious hedge fund that he claimed would invest in equity securities, has been charged by the SEC with conducting several fraudulent securities offerings and siphoning some […]

FBI Allege $311 Million Global Hedge Fund Fraud Scheme

New York (HedgeCo.Net) – Two business associates in the hedge fund management industry have been charged by the FBI with defrauding institutional investors and causing collective losses of more than $311 million. Helmut Kiener is charged by indictment with four […]

Hedge Fund Manager Charged With Lying To Investors Over Madoff Losses

New York (HedgeCo.Net) – Former hedge fund manager Nikolai Battoo has been ordered to pay more than $358 million in a SEC lawsuit stemming from million in losses Battoo hid from investors. “This is an appropriate penalty because of the sheer […]

Two Florida Men Charged With Looting Their Own Hedge Fund

New York (HedgeCo.Net) – Robert Buckhannon and Terry Rawstern have been arrested by the FBI for attempting to steal from the 2 Florida hedge funds they ran, NBC reports. They could each spend up to 30 years in jail if […]

Texas Tycoon To Pay Up To $4 Million In Fines

New York (HedgeCo.Net) – Defendant Sam Wyly and the estate of his now deceased brother Charles Wyly, have been ordered to pay disgorgements that could reach $400 million, potentially bankrupting the Texas “entrepreneur.” The Wylys’ scheme defrauded the investing public […]

Former Money Manager Charged With Stealing Hedge Fund Fees

New York (HedgeCo.Net) – Former hedge fund manager Sean C. Cooper has been accused of fraudulently taking excess management fees from the accounts of investors, the SEC reports. An investigation found that Cooper improperly withdrew more than $320,000 from a […]

Hedge Fund Manager & Accomplice Charged With Portfolio Pumping

New York (HedgeCo.Net) – Minneapolis-based hedge fund manager Steven R. Markusen and an accomplice Jay C. Cope have been charged by the SEC with bilking investors in two hedge funds out of more than $1 million under the guise of […]

Hedge Fund Trader Mathew Martoma Gets 9 Years Behind Bars

New York (HedgeCo.Net) – Former SAC Capital trader Mathew Martoma has been sentenced to nine years in prison for his part in a scheme involving an Alzheimer’s Disease drug trial to make his hedge fund approximately $276 million. “I cannot and will […]

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