Hedge Fund News From HedgeCo.Net

Category Archives: Hedge Fund Fraud

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. […]

Rengan Rajaratnam’s Hedge Fund Fraud Charges Go To Trial

New York (HedgeCo.Net) – Rengan Rajaratnam’s trial for hedge fund insider trading has begun. Rengan Rajaratnam was charged with conspiracy to commit securities fraud and six counts of securities fraud. He has been charged with conspiring with his older brother Raj, to cheat on […]

Hedge Fund Firm Paradigm Settles Whistleblower Retaliation Charges For $2.2 Million

New York (HedgeCo.Net) – NY hedge fund advisory firm Paradigm Capital Management and its owner Candace King Weir have agreed to pay $2.2 million to settle SEC charges of engaging in prohibited behavior and then retaliating against the employee who […]

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