Tag Archives: securities fraud

Ex-Bear Stearns Fund Manager Tannin Worried About ‘Blow Up’

Bloomberg – Former Bear Stearns Cos. hedge fund manager Matthew Tannin, accused of misleading investors, said “We could blow up” in a 2006 e-mail, according to documents released by prosecutors. Tannin, 47, is set to go on trial Oct. 13 […]

A test case for Wall Street justice

CNN Money – Ralph Cioffi and Matthew Tannin, both former hedge fund managers at Bear Stearns, are accused of painting a rosy picture of their portfolios, even though “the defendants believed that the funds were in grave condition and at […]

Md. gets $9M judgment against former hedge fund

The Examiner – The Maryland attorney general’s office says it has won a $9.5 million judgment against the operator of several former hedge funds. The judgment was granted in Prince George’s County Circuit Court against John Henry Williams. In February […]

Appeals Court Affirms Dismissal of Securities Fraud Against Hennessee Group

New York — The U.S. Court of Appeals for the Second Circuit has affirmed a district court’s decision that dismissed a securities fraud case against New York-based hedge fund investment adviser Hennessee Group LLC. In the 36-page opinion issued July […]

Citadel fund files $470 mln claim against Lehman

Reuters – Hedge fund Citadel Investment Group claims it is owed $470.5 million on derivatives contracts it held with Lehman Brothers, according to a claim filed in a New York bankruptcy court last week. Citadel, which manages around $12 billion […]

Case will throw light on funds before Bear Stearns collapsed

Daily Telegraph – The funds collapsed as billions of dollars of bets made on mortgage-backed bonds and collateralised debt obligations (CDOs) unravelled, and when the time came to try to sell some of the funds’ sub-prime mortgages, no one wanted […]

Lawsuit says hedge-fund manager stole $750,000

Pittsburgh Post-Gazette – The family of a Cambria County manufacturer has filed a lawsuit claiming that a New York hedge-fund manager illegally took $750,000 from its trust fund. The lawsuit, filed by the family of Frank Calandra Jr., was moved […]

Ex-BDO Seidman’s Mark Bloom Pleads Guilty in Hedge Fund Fraud

Bloomberg – Hedge fund manager Mark Bloom pleaded guilty to U.S. charges that he stole at least $20 million from clients and lied to them, and that he helped sell illegal tax shelters while working earlier at BDO Seidman LLP. […]

Appeals Court Dismisses Fraud Charges Against Hedge Fund Advisor Hennessee Group

HedgeCo.net (West Palm Beach) – The U.S. Court of Appeals affirmed a district court’s decision that also dismissed a securities fraud case against New York-based hedge fund investment adviser Hennessee Group LLC. Judge Colleen McMahon of the U.S. District Court […]

California Investment Agent Pleads Guilty in NY Probe

American Chronicle – A Los Angeles businessman has pleaded guilty to corruption charges in a pension fund scandal that began in New York and is heading west. Julio Ramirez Jr.’s guilty plea to securities fraud, revealed Tuesday in New York, […]

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 […]

Lawyer in $700M fraud to plead guilty

New York Daily News – Marc Dreier will plead guilty to all charges stemming from the $700 million investment fraud he is accused of carrying out, his lawyer said Monday. Defense lawyer Gerald Shargel said Dreier will enter the plea […]