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Category Archives: hedge fund rulings

Falcone Sells Hedge Fund Shares In Bid To Liquidate Assets

New York (HedgeCo.Net) – Philip Falcone has sold 18.6 million shares of Harbinger Group to ”mini Berkshire Hathaway” Leucadia National Corp, Bloomberg reports. Falcone sold the shares worth $158m as part of a move to raise funds for his SEC settlement of more […]

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 […]

Hedge Fund Receives Confiscated Art As Compensation For Fraud

New York (HedgeCo.Net) – Hedge fund Heathfield Capital Limited has received eighteen pieces of contemporary art including pieces by Andy Warhol, Mark Rothko and Damien Hirst. The artwork has been valued at approximately $33 million. The New York-based hedge fund was a […]

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 […]

Hochfeld Hedge Fund Adviser Jailed

New York (HedgeCo.Net) – Hedge fund manager and adviser Berton Hochfeld was sentenced this week to two years in prison for defrauding investors out of more than $1 million. Hochfeld pled guilty in January to securities fraud and wires fraud […]

Former Goldman Hedge Fund Trader Found Liable For Fraud

New York (HedgeCo.Net) – Fabrice Tourre, the former Goldman Sachs hedge fund trader with the nickname ”Fabulous Fab” has been found liable for fraud by a jury in Manhattan on six of seven counts of fraud. The SEC in 2010 filed securities fraud charges […]

Former Hedge Fund General Council Named Director Of FBI

New York (HedgeCo.Net) – Former General Counsel at hedge fund Bridgewater Associates has been named by the senate as the new director of the FBI by a 93-to-1 margin.  James Brien Comey, Jr. will succeed Robert S. Mueller III, the Washington Post reveals. […]

Feds Charge Two More In Hedge Fund Fiasco

New York (HedgeCo.Net) – In the latest news regarding Stephen Cohen’s embattled hedge fund SAC Capital, analyst Sandeep Aggarwal and portfolio manager Richard Lee have been charged with insider trading. According to the SEC complaint filed in federal court in Manhattan, Aggarwal covered both […]

Hedge Funds To Pay $500K In Sanctions To Texas Pacific Group

New York (HedgeCo.Net) – Private equity firm Texas Pacific Group (TPG) has been awarded approximately $500,000 in sanctions against three hedge funds who had been pursuing involuntary bankruptcy petitions against two former TPG related companies, according to a report by law […]

Preet Bharara: Bayou Hedge Fund Victims Awarded Over $31 Million

New York (HedgeCo.Net) – The Southern District of New York has awarded $31,788,917.44 in proceeds from forfeited assets to victims of the fraud committed at the Bayou hedge funds. The forfeited assets include approximately $2 million seized from a bank […]

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