Tag Archives: ponzi scheme
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 […]
Ponzi Funds Said Missing
Wall Street Journal – Prosecutors said $160 million is unaccounted for in a Ponzi scheme allegedly run by hedge-fund manager James Nicholson. At a bail hearing Thursday, Assistant U.S. Attorney Maria E. Douvas said the government’s investigation showed that $293 […]
Madoff Trustee Locates Assets of $75 Million
Wall Street Journal – A lawyer for the court-appointed trustee liquidating Bernard Madoff’s firm confirmed they have located an additional $75 million in Madoff assets — a figure that would put the total above $1 billion. A lawyer for the […]
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 […]
Madoff Jailed After Guilty Plea
New York (Hedgeco.Net) – Bernard Madoff was finally promoted from house arrest to maximum security prison, after pleading guilty to the largest Ponzi scheme in history. Madoff, who swindled an estimated $65 billion out of the most elite investors, could […]
Craigslist: Fall Guy For Your Hedge Fund
The Consumerist – Humor – If you need a scapegoat for your financial ponzi scheme, there’s a guy on Craigslist who’s looking for a job: Is your hedge fund in dire financial straits? Are you totally screwed and now realizing […]
Middleman company tied to Madoff case
Tacoma News Tribune – Tucked among the hedge funds and the famous names on Bernard Madoff’s client roster is an unlikely group of about 800 people – strangers to one another, yet all listed at the same anonymous Denver address. […]
Texas Hedge Fund Manager Bilks $10.9 Million From 250 Investors
New York (HedgeCo.Net) – Hedge fund manager Ray M. White and his company, CRW Management, LP, have been charged today by the Commodity Futures Trading Commission of swindling at least $10.9 million from over 250 investors through an alleged Ponzi […]
Red Flags, New Evidence May Help Convict Deaf Ponzi Schemer
New York (HedgeCo.Net) – Marvin Cooper, who allegedly swindled deaf investors through his money management firm-turned Ponzi scheme, is maintaining his innocence despite new evidence uncovered Monday in federal court. "Nobody’s been defrauded," Cooper’s attorney, Michael Glenn told the […]
Idaho Man Nailed for Manning $40 Million Ponzi Scheme
New York (HedgeCo.Net) – Idaho Falls resident Daren L. Palmer has been charged with operating a $40 million Ponzi scheme through his unregistered company, Trigon Group, according to the Commodity Futures Trading Commission. Palmer is being charged with solicitation fraud […]
SEC Nails Ponzi Scheme Aimed at Deaf Community
New York (HedgeCo.Net) – The SEC has located and halted a Ponzi scheme targeted primarily at deaf individuals in the United States and Japan. According to the complaint, Hawaii-based Billion Coupons, Inc. along with its CEOMarvin R. Cooper was able […]
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 […]
