Tag Archives: fraud
Hennessee Group and co-founder settle with SEC over due diligence on Bayou hedge funds
Los Angeles Times – When a well-known investment advisor gave the Securities and Exchange Commission some unsolicited advice this week about protecting investors in hedge funds, he had already been talking to the agency about his own behavior. About half […]
Bayou Hedge Fund Exec Sentenced
North Country Gazette – The brother of the former chief financial officer of the bankrupt hedge fund firm Bayou Group LLC has been sentenced to 21 months in federal prison of his role in concealing a $400 million fraud. […]
Funds Tied to Madoff in Legal Vise
Gainesville Sun – As Bernard L. Madoff waits in jail to be sentenced, legal problems are accumulating for some of the hedge fund managers who helped him raise billions of dollars from around the world for what he now admits […]
Hedge fund manager Fairfield Greenwich charged over Madoff fraud
Times Online – Fairfield Greenwich, the hedge fund manager founded by socialite Walter Noel, became the first fund that invested with disgraced fund manager Bernard Madoff to be charged with fraud. William Galvin, Massachusett’s Secretary of State, today accused the […]
Hedge fund industry still feeling Madoff effect
Reuters – Bernard Madoff is behind bars, but the effects of his fraud are still reverberating in the hedge fund industry, with more redemptions expected and investor confidence decimated. Traumatized investors are now more likely to closely monitor where their money […]
HMC Hedge Fund Founder Grebow Sentenced to Four Years in Fraud
Bloomberg – Bret Grebow, co-founder of hedge fund HMC International LLC, was sentenced to four years in prison for defrauding investors out of $7.8 million in what prosecutors said was “a classic Ponzi scheme.” Grebow, of Highland, Florida, was also […]
Stanford link to ‘second family fund’
In the News – A fund of hedge funds run by two members of US vice president Joe Biden’s family was marketed by firms connected to Sir Allen Stanford, it has been claimed. The Texan billionaire is facing charges over […]
Madoff distortion makes some hedge funds look good
Reuters – One of the bizarre effects of Bernard Madoff’s alleged $50 billion fraud is that it has boosted the performance of one group of hedge funds when measured against their peers, industry insiders said. At least one major index, […]
Madoff ‘has blood on hands’ over shooting death
West Sussex County Times – A former soldier who shot himself in the head in Southampton was facing bankruptcy after becoming the victim of an alleged fraud by US banker Bernard Madoff, his grieving son said. The son of William […]
Hedge fund manager may sell farm after being stung by Madoff
Reuters – Many gamblers have been forced to sell financial assets to cover bets on horses, but it is less common for a lover of thoroughbreds to sell a farm because of bad bets on investments. But that may be […]
Amaranth, Perella Were Victims of Dreier’s Fraud, US Says
Bloomberg – The victims of Marc Dreier, the New York lawyer charged in a $400 million fraud, included Amaranth Group Inc., Perella Weinberg Partners and Blackstone Group LP’s GSO Capital Partners, U.S. prosecutors said. Government lawyers identified the firms in […]
Treasury Select Committee MPs accuse funds of cashing in on misery
Times Online – The Massachusetts Pension Reserves Investment Management Board, which oversees $38 billion, voted to fire hedge-fund firm Austin Capital Management after losing $12 million with alleged Ponzi scheme operator Bernard Madoff. The state pension board also decided at […]
