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Category Archives: Hedge Fund Fraud

Justice Department Probes Hedge Fund Dealings in Libya

New York (HedgeCo.Net) – The US Justice Department has started looking at banks, hedge funds and private equity funds that may have broken anti-bribery laws in their dealings with the Libyan sovereign wealth fund, which is run by Libya’s government, WSJ reports. […]

Oppenheimer Fund Manager Agrees to Settle Fraud Charges

New York (HedgeCo.Net) – Former Oppenheimer & Co. portfolio manager has agreed to be barred from the securities industry and pay a $100,000 penalty for making misrepresentations about the valuation of a fund consisting of other private equity funds. Last year, […]

Goldman Sachs Hedge Fund Trader Denied New Trial, SEC Wants Money Transfer To US

New York (HedgeCo.Net) – Fabrice Tourre, the former Goldman Sachs hedge fund trader with the nickname “Fabulous Fab” has been denied a new trial by Judge Katherine Forrest in Manhattan. Tourre was found liable for fraud by a jury in Manhattan on six of […]

Hedge Fund Trader Mathew Martoma Denied “Consciousness Of Guilt” Defense

New York (HedgeCo.Net) – The trial against former SAC Capital trader Mathew Martoma for insider trading during an Alzheimer disease drug trial has started this week in that is being called the most lucrative hedge fund insider trading cases ever prosecuted. CBS […]

SAC: New York Hedge Fund Honcho May Face Prison Time

New York (HedgeCo.Net) – Michael Steinberg, a former portfolio manager at Steven A. Cohen’s hedge fund, SAC Capital Advisors, has been found guilty of involvement in an insider trading scheme. Manhattan U.S. Attorney Preet Bharara said back in April, “As […]

Fraudulent Fund Faces SEC In “Make A Lot Of Money” Scheme, 6 Charged

New York (HedgeCo.Net) – Another “get rich scheme” is under fire by the SEC today after a Swiss-based “hedge fund,” Malom Group AG, and six individuals in Las Vegas and Zurich raised $11 million from U.S. investors by using a series […]

Hedge Fund Fraud, JP Morgan, Merrill Lynch, Kaupthing Bank

New York (HedgeCo.Net) – Also in the news today, the Guardian reports that JP Morgan is facing a $2 billion fine for involvement in the Bernard Madoff hedge fund ponzi scheme. The paper reports that the banking giant has tentatively […]

Texas Oil Investment Firm’s Assets Frozen

New York (HedgeCo.Net) – The SEC has frozen the assets and announced charges against the perpetrators of a Texas-based Ponzi scheme involving purported investments in oil and gas projects. “Robert A. Helms and Janniece S. Kaelin misled investors about their […]

SEC Charges Miami-Based Trader With Insider Trading and Short Selling Violations

New York (HedgeCo.Net) – A Miami-based trader has been caught red handed with insider trading information in a large Chinese company. Charles Raymond Langston III was also caught conducting illegal short sales in the securities of three other companies. “Langston agreed to […]

Houston Investment Advisors Charged With Hiding Securities Transactions From Clients

New York (HedgeCo.Net) – Two Houston-based investment advisory firms and three executives have been charged by the SEC for engineering thousands of principal transactions through their affiliated brokerage firm without informing their clients. The SEC alleges that investment advisers Parallax […]

Hedge Fund Analyst Claims He was Paid $2 Million For Insider Tips

New York (HedgeCo.Net) –  A former analyst for hedge fund Diamondback Capital Management claims that he received a bonus of over $2 million the same year his insider trading tips helped the hedge fund earn over $3.8 million. The hedge fund has […]

Galleon Hedge Fund: California Techie to Pay $60,000 To Settle SEC Charges

New York (HedgeCo.Net) – Another tech employee at a Silicon Valley-based semiconductor company has been charged for his role tipping nonpublic information used in connection with Raj Rajaratnam’s massive insider trading scheme. The SEC alleges that Sam Miri, who worked […]

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