Tag Archives: april-29

Miami Hedge Fund Swindler Sentenced

New York (HedgeCo.Net) – Hedge fund fraudster Salman Shariff has been sentenced to 57 months behind bars, years after swindling millions from trusting investors.  The Miami-based funds raked in almost $11 million from 1998 to 2001, while Shariff afforded himself […]

Turnberry Hedge Fund to Liquidate

New York (HedgeCo.Net) – Turnberry Capital Management LP has decided to close its doors and liquidate its assets, after many investors inquired about getting their money back.  The hedge fund, which specializes in purchasing distressed debt, once held approximately $800 […]

Merrill, Citigroup to Buy Back $30 Billion in ARS

New York (HedgeCo.Net) – Merrill Lynch and Citigroup, two banks that have already written down billions in losses, will buy back $30 billion in auction-rate securities as part of an agreement with regulators.  This comes after the threat made by […]

Carlyle Group to Liquidate Hedge Fund

New York (HedgeCo.Net) – The private equity firm Carlyle Group will liquidate its lone hedge fund, after stating that it failed to achieve “critical mass.” The fund, Carlyle-Blue Wave Partners Management LP, was a multi-strat fund launched by Rick Goldsmith […]

TD Waterhouse Fined $2 Million for Illegal Sale of Hedge Funds

New York (HedgeCo.Net) – TD Waterhouse has been ordered to pay a $2 million fine as a result of selling hedge funds to clients who were not accredited, according to a report by the Vancouver Sun. The Investment Industry Regulatory […]

U.S. Marshals Service to Help Clean Up Hedge Fund Mess

New York (HedgeCo.Net) – While the aftermath of the collapsed Bayou hedge fund may have left investors with nothing more than shock, the U.S. Marshals are trying to recoup some of the losses that were suffered.  By selling Bayou’s failed […]

Delphi to Proceed in Suit Against Hedge Fund

New York (HedgeCo.Net) – American auto parts maker Delphi has been given the green light to proceed with their suit against hedge fund Appaloosa Management. U.S. Bankruptcy Judge Robert Drain denied a request by Appaloosa yesterday to dismiss the fraud […]

Judge Drops Suit Against UBS, Not Responsible for Hedge Fund Fraud

New York (HedgeCo.Net) – Service providers for hedge funds scored a victory yesterday when a New York judge threw out a suit filed against UBS by defrauded investors. Judge Charles Ramos dismissed the complaint in a Manhattan court at the […]

Paulson & Co. To Launch New Hedge Fund

New York (HedgeCo.Net) – John Paulson, the infamous hedge fund manager turned billionaire who bet brilliantly against the housing market, will start a new fund later this year according to a report published on Bloomberg.com. The new hedge fund will […]

Hedge Fund Halts Takeover Talks, Inmarsat Shares Plunge

New York (HedgeCo.Net) – Inmarsat shares took a dive yesterday after hedge fund Harbinger Capital halted talks of a possible takeover.  Harbinger has amassed a 28 percent stake in the U.K.-based mobile satellite communications group. Harbinger, who has AUM upwards […]

Trump Jr. To Launch Hedge Fund

New York (HedgeCo.Net) – Donald Trump Jr. has plans to set up a $1 billion hedge fund that will amass property in India and capitalize on the nation’s economic growth, according to a report published on Bloomberg.com.  "The fund will […]

Goldman May Take Heat for Bayou Hedge Fund Fraud

New York (HedgeCo.Net) – Disdained investors of the former Bayou hedge fund, run by one-time fugitive Sam Israel, are going after Goldman Sachs for $20 million to try and recover some of their losses. Goldman Sachs served as the prime […]