HEDGE FUND NEWS

New York (HedgeCo.Net) - Troubles keep arising for Bear Stearns, even after its demise and the resulting takeover by JPMorgan Chase.  It seems investors are still targeting Bear after the implosion of their two failed hedge funds last year that kicked off the subprime mortgage crisis. 
Federal prosecutors, along with the SEC, may bring criminal […]

New York (HedgeCo.Net) - The manhunt continues for former Bayou hedge fund manager Sam Israel, who went missing just hours before his scheduled jail term of 20 years.
Israel’s 2006 GMC SUV was found abandoned on the bank of the Hudson River just north of New York City, with the words ‘Suicide is Painless’ written through […]

Philadelphia Daily News- A hedge-fund swindler who was supposed to be driving himself to prison abandoned his car on a bridge with the phrase "Suicide is Painless" scrawled on its hood, but no body has been found in the river below - and the victims of his fraud say they doubt he killed himself.
The FBI, […]

Telegram.com - Convicted swindler Amit Mathur will remain in federal custody for the next three months, a federal judge ruled today.
In denying Mr. Mathur’s bid to be released on bail until his sentencing, scheduled for Sept. 5, U.S. District Court Judge F. Dennis Saylor IV said there were […]

New York (HedgeCo.Net) - The international man hunt for Sam Israel came to an end yesterday when the hedge fund fraudster turned himself over to authorities.  
Israel turned himself into the Southwick, Mass., police station around 9:30 a.m., said Suzanne Anderson, Police Chief Assistant.  The police station is about 95 miles away from the Ayer, […]

FINalternatives - A lawyer for the hedge fund manager accused by Massachusetts authorities of improperly marketing his fund is lashing out at his client’s tormentor.
Raymond Mansolillo, who represents Michael Regan, called Massachusetts Secretary of the Commonwealth “unprofessional” and accused him of filing “premature” charges when he found out Regan had approached federal prosecutors in New […]

West Palm Beach (Hedge Co.Net)- Kirk Sean Wright, CEO of hedge fund International Management Associates of Atlanta hanged himself in a Union City jail cell Saturday night.
Wright was convicted by a federal jury on 47 counts of mail fraud, securities fraud and money laundering, stemming from a scam run through his hedge fund, International Management […]

Reuters - A federal jury in Atlanta on Wednesday convicted former hedge fund manager Kirk Wright on charges of scamming investors, including former professional athletes, out of $150 million, the Justice Department said.
Kirk was found guilty on charges of mail fraud, securities fraud and money laundering relating to the 2006 collapse of his Atlanta-based […]

West Palm Beach (HedgeCo.net)- William Galvin, Massachusetts’ top securities regulator has charged the hedge fund manager of the River Stream Fund with improperly soliciting investors.
The investigation also turned up a brokerage statement that showed the fund had $1,625 in its account in April. Regan had said he ran $15 million. The regulator said investors who entrusted their savings […]

Reuters - Massachusetts’ top securities regulator on Monday charged a hedge fund manager, who promised to earn as much as 20 percent for his clients, with improperly soliciting investors.
William Galvin, the state’s secretary of the commonwealth, said Michael Regan did not check whether investors in his River Stream fund were wealthy enough to legally […]

The Lowell Sun - A Burlington hedge fund and its former manager have agreed to pay more than $1 million for trading on inside information surrounding the Citizen Bank’s $10.5 billion purchase of Chapter One.
Federal regulators from the U.S. Securities and Exchange Commission announced a settlement with Global Time Capital Management and former chief […]