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Category Archives: Hedge Fund Fraud

Jury Selection Begins For Hedge Fund Portfolio Manager Michael Steinberg

New York (HedgeCo.Net) – Reuters reports that jury selection started yesterday in the case against a portfolio manager at Steven A. Cohen’s hedge fund, SAC Capital Advisors, for his alleged involvement in an insider trading scheme. Manhattan U.S. Attorney Preet […]

Galleon: Hedge Fund Billionaire’s Conviction Upheld

New York (HedgeCo.Net) – Billionaire and convicted hedge fund founder Raj Rajaratnam requested a review of his May 2011 conviction. Yesterday a federal appeals court refused to disturb the insider trading conviction, the Chicago Business Tribune reports. The Sri Lankan-born American who […]

Mark Megalli Charged With Insider Trading, Giving His Hedge Fund $3.2M Edge

New York (HedgeCo.Net) – Another New York hedgie has gotten himself in trouble with the SEC after he used nonpublic information about a clothing company to give the hedge fund where he worked a $3.2 million trading edge. The SEC […]

SEC Charges RBS Subsidiary with Misleading Investors

New York (HedgeCo.net) – RBS Securities Inc., is under fire by the SEC for misleading investors in a 2007 subprime residential mortgage-backed security (RMBS) offering.  RBS agreed to settle the matter and pay more than $150 million, which the SEC […]

High Speed Trader Charged With Manipulating Futures Contracts To The Tune Of $20 Million

New York (HedgeCo.Net) – The CFTC has filed a civil an enforcement action in New York against Donald R. Wilson and his company, DRW Investments, for unlawfully manipulating the price of a futures contract. The CFTC claims that the defendants […]

SAC Capital: Hedge Fund Billionaire’s Baseball Dreams Fall Through

New York (HedgeCo.Net) –  N.Y. District Judge Richard Sullivan has signed off on a $900 million judgment, part of the $1.2 billion settlement reached by the SEC and hedge fund billionaire Steven Cohen. The settlement is the largest insider trading penalty […]

SEC Freezes US/New Zealand Ponzi Scheme’s Funds

New York (HedgeCo.Net) – The SEC taken action to freeze the assets of Ponzi scheme involving U.S. and New Zealand-based companies peddling sham investment opportunities ranging from a bank trading program to kidney dialysis clinics. Christopher A.T. Pedras, who has […]

Steven Cohen’s Hedge Fund Deal Nears Resolution

New York (HedgeCo.Net) – CBS News reports that according to an anonymous source, SAC Capital has “reached a tentative deal with federal prosecutors to settle the case and pay more than $1 billion in fines and forfeitures.” Although the deal […]

SEC Seeks Lifetime Ban Against Hedge Fund Billionaire Cohen

New York (HedgeCo.Net) – As SAC Capital is nearing a deal to settle insider trading charges, it has been reported that the hedge fund, run by billionaire investor Steven Cohen, is close to a deal that would include more than […]

Government Shutdown: Rengan Rajaratnam Hedge Fund Insider Trading Case Delayed

New York (HedgeCo.Net) – The insider-trading lawsuit against Rengan Rajaratnam has been delayed due to the ongoing federal government shutdown. Rengan is the younger brother of the now imprisoned hedge fund billionaire Raj Rajaratnam. Bloomberg reports that the case has […]

Hedge Fund Manager Gets 17 Years In Connection With Petters Ponzi Sheme

New York (HedgeCo.Net) – Hedge fund manager James Nathan Fry of Orono, Minnesota was sentenced to 17½ years in prison on five counts of securities fraud, four counts of wire fraud, and three counts of making a false statement to the SEC. […]

SEC Charges South Florida Woman Behind Ponzi Scheme

New York (HedgeCo.Net) – The SEC charged a woman living in South Florida with defrauding investors in a Ponzi scheme and affinity fraud that targeted the local Colombian-American community and involved purported investments in immigration bail bonds. The SEC alleges […]

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