Tag Archives: 6-million


Paulson Fund Makes at Least $420 Million Shorting RBS

Bloomberg – Paulson & Co., the hedge fund run by billionaire John Paulson, made at least 295 million pounds ($420 million) since September by short selling Royal Bank of Scotland Group Plc. Paulson held a short position of 0.87 percent […]

Madoff tries to stay out of jail as probe widens

Sify – Bernard Madoff, the long time Wall Street executive accused of cheating investors worldwide out of $50 billion, scrambled to find relatives or friends to guarantee his bond on Tuesday and keep him of jail. Bernard L. Madoff and […]

Geneva banks lost more than $4 billion to Madoff: report

Reuters – Three European banks on Sunday announced a total of about $3.8 billion in exposure to an investment fund run by Bernard Madoff, the U.S. investor accused of running a $50 billion "Ponzi" scheme. The largest banks of both […]

RBS Faces Losses After US ‘Fraud’

Ananova - Royal Bank of Scotland says it is facing a potential loss of £400m after a Wall Street banker was charged with a massive alleged fraud. US prosecutors say Bernard Madoff has confessed to defrauding investors of $50bn (£33bn) in […]

Ritchie Funds Sued by Barclays Over Hidden Petters Group Stake

Bloomberg – Ritchie Capital Management and Thane Ritchie, the hedge fund manager’s principal, were sued by Barclays Bank Plc over accusations they concealed more than $150 million in investments made in the collapsed Petters Group Worldwide LLC and affiliates. Now […]

Petters resigns amid probe

Pioneer Press – Tom Petters, who spent two decades building the Petters Group Worldwide into a far-flung empire with $2 billion in sales and 3,200 employees, resigned Monday amid a federal investigation into allegations of fraud at one of his […]

SEC advances pair of hedge fund cases

Forbes – A federal judge in Florida ruled Wednesday that the head of two hedge funds deceived investors about the funds’ holdings. Elsewhere, federal regulators accused a California investment adviser of making tainted recommendations to clients. In the Florida case, […]

Hedge Fund Fraudster to Pay $300 Million Back to Investors

New York (HedgeCo.Net) – Paul Eustace, former head of Philadelphia Alternative Asset Management Company, has been ordered to pay back nearly $300 thanks to his fraudulent ways. According to a statement by the Commodity Futures Trading Commission, the Canadian resident […]

Hedge Funds Alone In Fight Against Short-Selling Curb

Among the 300 investor comments filed over the past month with the Securities and Exchange Commission about naked short selling, most voiced opposition to the abusive version of it. Adding to the cry against naked short selling is a new […]

Hedge fund founder barred from pleading

Boston Globe – A federal judge barred Samuel Israel, the convicted founder of hedge fund firm Bayou Group LLC, from entering a plea to bail jumping, saying his addiction to methadone may have impaired his judgment. A US judge cited […]

Defrauded fund investors sue Goldman

International Herald Tribune- Samuel Israel 3rd bilked his investors out of $250 million, but they are hoping to recoup some of their money from one of Wall Street’s deepest pockets: Goldman Sachs. Bayou’s creditors were taking aim at Goldman even before […]

FBI probes IndyMac Bank for possible fraud

Montreal Gazette- IndyMac Bank is under investigation by the FBI for possible fraud involving home loans made to risky borrowers, the Associated Press reported yesterday, citing an unnamed law enforcement official. The report said it was not immediately clear how […]

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