Hedge Fund News From HedgeCo.Net

Category Archives: Hedge Fund Fraud

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 […]

SEC: Brokerage Firm Worked With A Hedge Fund To Hide $45 Million

New York (HedgeCo.Net) – Hedge fund manager Nikolai Battoo is again under investigation, this time for his inappropriate business dealings with Bahamas-based brokerage firm Alliance Investment Management Limited. The SEC alleges that Julian R. Brown and his firm Alliance Investment Management Limited […]

The Hedge Fund Manager On The FBI’s Most Wanted List

New York (HedgeCo.Net) – Florian Wilhelm Jürgen Homm, a German hedge fund manager who was on the run for more than five years, is wanted by the FBI for his alleged involvement in a market manipulation scheme designed to artificially […]

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, […]

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