Tag Archives: conspiracy


Lawyer Dreier pleads guilty to defrauding hedge funds of more $400 million

Minneapolis Star Tribune – A Prominent Manhattan lawyer has pleaded guilty to defrauding hedge funds of more than $400 million. Fifty-eight-year-old Marc Dreier on Monday pleaded guilty to conspiracy to commit securities and wire fraud, securities fraud, wire fraud and […]

Feds Charge Dreier Conspirator In Hedge Fund Fraud

North Country Gazette – A former registered broker with the National Association of Securities Dealers has been charged in a criminal information with conspiracy, securities fraud and wire fraud stemming from his participation with attorney Marc Dreier in the sale […]

Florida Hedge Fund Fraudster Remains in Federal Custody

New York (HedgeCo.Net) – A former Florida hedge fund manager is being held without bail in a West Palm Beach prison after prosecutors convinced the judge he is a flight risk.  Attorneys for Won-Sok Lee were seeking a continuance for […]

US lawyer pleads not guilty to money laundering

BusinessWeek – A prominent Manhattan lawyer accused of peddling $700 million in phony securities to hedge funds will likely forgo a trial and change his plea to guilty, his attorney told a judge Thursday. The defense announcement came at a […]

Hedge funds count the cost of trading losses

Guardian.co.uk – Hedge funds and banks are expected to bear the brunt of derivative losses estimated at $15bn (£9.4bn) linked to the collapse of Iceland’s three major banks – Landsbanki, Glitnir and Kaupthing – which failed in rapid succession last […]

Credit Derivatives Market Shrinks 12% as Dealers Reduce Trades

Bloomberg – Credit-default swap dealers reduced the volume of outstanding contracts for the first time amid efforts to reduce risks in a market used to hedge against bond losses and speculate on corporate creditworthiness. The volume of outstanding trades fell […]

RLPC-Leveraged loans sag as hedge funds sell-traders

Reuters – Leveraged loan prices fell on Wednesday as hedge funds facing redemptions and forced to cover short equity positions sold loans, traders told Reuters Loan Pricing Corp. Leveraged loans have declined over the past week amid a rout in […]

CDS counterparty risks serious threat to global financial markets

Hedge Funds Review Magazine – Greenwich Associates conducted a study of 146 institutions in North America and Europe to determine how fears of counterparty risk were affecting institutional investment and trading strategies. The study revealed that 37% of participating institutions […]

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