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Category Archives: Hedge Fund Fraud

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 […]

South Carolina Hedgie Indicted for Defrauding Investors and Obstructing SEC

New York (HedgeCo.Net) – A former hedge fund manager has been arrested in South Carolina after being indicted by a federal grand jury in Atlanta for defrauding his investors of around $8 million and then obstructing the SEC’s investigation. “Stanley […]

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 […]

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