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Category Archives: Hedge Fund Fraud

Defrauding Hedge Funds: Madoff’s Accountant Fudged The Numbers, SEC Says

New York (HedgeCo.Net) – The SEC has charged Bernard Madoff’s longtime accountant for his role in the creation of false books and records used in the massive Ponzi scheme. “Paul Konigsberg’s assistance resulted in the formation of inaccurate trade confirmations each […]

SEC Charges Former President of California-Based Investment Firm With Fraud

New York (HedgeCo.Net) – The former president of a purported private equity real estate firm based in San Bernardino, Calif., has been charged with defrauding nearly 500 investors who purchased promissory notes under the false premise that they were secured […]

Hedge Funds: SEC Weekend Fraud Roundup

New York (HedgeCo.Net) – Following a plea deal struck in April, Oregon-based hedge fund manager Yusaf Jawed has been sentenced to six years in prison for defrauding investors of $37 million. Jawed plead guilty to 17 counts of mail and wire fraud […]

NY Hedge Fund Adviser Fined For Breaching Fiduciary Duty Due To Conflict Of Interest

New York (HedgeCo.Net) – One of the founders of New York hedge fund firm Vicis Capital is under fire by the SEC for engineering an undisclosed transaction in which he had a financial conflict of interest. Without admitting or denying […]

Hedge Funds To Pay $14 Million to Settle SEC Market Manipulation Charges

New York (HedgeCo.Net) – In one of the largest crackdowns in the industry, the SEC has taken legal action against 23 firms and hedge fund managers for short selling violations. The funds agreed to pay $14.4 million to settle the market […]

Florida Man Sentenced To Over 5 Years For Hedge Fund Fraud

New York (HedgeCo.Net) – Hedge fund manager and former Penn State tight-end, Paul Pomfret, has been sentenced to 63 months’ imprisonment. He pleaded guilty to wire fraud in May, his Palm Beach-based hedge fund PDP Capital has been involved in several legal […]

Fredrick Scott Pleads Guilty to Using Manhattan-Based Hedge Fund Firm to Steal More Than $1 Million

New York (HedgeCo.Net) – Hedge fund founder and adviser Fredrick Douglas Scott, one of Ebony magazine’s “Top 30 under 30,” has pleaded guilty to engaging in a wire fraud conspiracy to steal over $1 million from investors and lying to officials from […]

Two Indicted in $275 Million Investment Fraud Scheme Involving the Sale of Medical Accounts Receivable to Hedge Funds

New York (HedgeCo.Net) – A federal grand jury has indicted Richard Shusterman, age 50, of Highland Beach, Florida, and Jonathan E. Rosenberg, age 44, of West Orange, New Jersey, on charges of conspiracy and wire fraud, in connection with a […]

Hedge Fund Adviser Under Fire For Faking Algorithmic Currency Trading

New York (HedgeCo.Net) – A North Carolina-based investment adviser and its former owner are being looked at by the SEC after they were accused of misleading an investment fund’s board of directors in order to get approval to manage their fund. […]

SEC Charges Former Oppenheimer Private Equity Fund Manager with Misleading Investors

New York (HedgeCo.Net) – Another former hedge fund manager is being targeted by regulators for misleading clients. The SEC has charged a former portfolio manager at Oppenheimer & Co. with misleading investors about the valuation and performance of a fund […]

Falcone’s Harbinger Hedge Fund To Pay More Than $18 Million, 5 Year Ban

New York (HedgeCo.Net) – Big news in the industry today, New York-based hedge fund adviser Philip Falcone and his advisory firm Harbinger Capital Partners have agreed to a settlement of more than $18 million, according to the New York Times. […]

SEC Freezes Assets Of Hedge Fund Davian Capital

New York (HedgeCo.Net) – The SEC has charged Ohio hedge fund manager Anthony Davian with misappropriating more than $1 million from investors in funds managed by his company, defendant Davian Capital Advisors, LLC. In July 2008, Davian formed Davian Capital, an […]

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