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Pennsylvania Hedge Fund Manager Pleads Guilty
Pennsylvania hedge fund manager Lloyd Barringer pled guilty over the weekend to four counts of fraud: securities fraud, conspiracy to commit securities fraud, mail fraud, and conspiracy to commit mail...
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Former Goldman Hedge Fund Trader Found Liable For Fraud
Fabrice Tourre, the former Goldman Sachs hedge fund trader with the nickname ”Fabulous Fab” has been found liable for fraud by a jury in Manhattan on six of seven counts of fraud. The SEC in 2010 filed...
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Fredrick Scott Pleads Guilty to Using Manhattan-Based Hedge Fund Firm to...
. Hedge fund founder and adviser Fredrick Douglas Scott, one of Ebony magazine’s “Top 30 under 30,” has pleaded guilty to engaging in a wire fraud conspiracy to steal over $1 million from investors and...
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Florida Man Sentenced To Over 5 Years For Hedge Fund Fraud
Hedge fund manager and former Penn State tight end, Paul Pomfret has been sentenced to 63 months’ imprisonment in federal court in Columbia. He pleaded guilty to wire fraud in May, his Palm Beach-based...
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Hedge Funds To Pay $14 Million to Settle SEC Market Manipulation Charges
In one of the largest crackdowns in the industry, the SEC has taken legal action against 23 firms and hedge fund managers for short selling violations. The funds agreed to pay $14.4 million to settle...
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NY Hedge Fund Adviser Fined For Breaching Fiduciary Duty Due To Conflict Of...
One of the founders of New York hedge fund firm Vicis Capital is under fire by the SEC for engineering an undisclosed transaction in which he had a financial conflict of interest. Without admitting or...
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Investor Funds: Whistleblower Awarded More Than $14 Million By SEC
The SEC has awarded more than $14 million to a whistleblower whose information led to enforcement action that recovered substantial investor funds. The award is the largest made by the SEC’s...
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SEC Charges Manager Of CDO With Favoring Hedge Funds Over Other Investors
. A NJ-based investment advisory firm and its owner have been charged by the SEC for “misleading investors in a collateralized debt obligation (CDO) and breaching their fiduciary duties in order to...
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SEC Freezes US/New Zealand Ponzi Scheme’s Funds
. The SEC taken action to freeze the assets of Ponzi scheme involving U.S. and New Zealand-based companies peddling sham investment opportunities ranging from a bank trading program to kidney dialysis...
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Mark Megalli Charged With Insider Trading, Giving His Hedge Fund $3.2M Edge
. Another New York hedgie has gotten himself in trouble with the SEC after he used nonpublic information about a clothing company to give the hedge fund where he worked a $3.2 million trading edge. The...
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Galleon Hedge Fund: California Techie to Pay $60,000 To Settle SEC Charges
Another tech employee at a Silicon Valley-based semiconductor company has been charged for his role tipping nonpublic information used in connection with Raj Rajaratnam’s massive insider trading...
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Hedge Fund Analyst Claims He was Paid $2 Million For Insider Tips
. A former analyst for hedge fund Diamondback Capital Management claims that he received a bonus of over $2 million the same year his insider trading tips helped the hedge fund earn over $3.8 million....
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JP Morgan Pays $1.7 Billion To Put Off Fraud Charges
In as settlement that defers criminal charges against JP Morgan until 2016, a US Judge has agreed to settle for a fine of $1.7 billion, Reuters reports. JP Morgan was being charged by the prosecution...
View ArticleManhattan Private Equity Manager Charged With Stealing $9 Million
A Manhattan-based private equity manager, Lawrence E. Penn III and his firm Camelot Acquisitions Secondary Opportunities Management, have had their assets frozen in a case put forward by the SEC. Three...
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Hedge Fund Trader Mathew Martoma Found Guilty
Former SAC Capital trader Mathew Martoma has been found guilty of insider trading in what is being called the most lucrative hedge fund insider trading cases ever prosecuted. “As the jury unanimously...
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Credit Suisse To Pay $196 Million In Fines
International banking firm Credit Suisse has agreed to pay $196 million and admitted to violating federal securities laws by providing cross-border brokerage and investment advisory services to U.S....
View Article$12 Million Fraud: Over 5 Years In Jail For Hedge Fund Manager
A NY hedge fund manager was sentenced to 5 and a half years in prison for defrauding investors in a $12 million scheme, Reuters reports this morning. Lloyd Barringer pled guilty in July 2013 to four...
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Massachusets Retirement Board Accuses Fletcher Hedge Funds Of $50 Million Fraud
. The Massachusetts Bay Transportation Authority (MBTA) Retirement Fund is suing New York hedge fund manager Alphonse Fletcher Jr., the Boston Globe reports. MBTA lost $25 million when Fletcher...
View ArticleNew York Hedgie Convicted Of Theft
Hedge fund founder and adviser Fredrick Douglas Scott, one of Ebony magazine’s “Top 30 under 30,” was sentenced to more than five years in prison for stealing over $1 million from investors. He pleaded...
View ArticleN.J.-Based Brokerage Firm Charged With Manipulative Trading
The SEC has charged the owner of a Holmdel, N.J.-based brokerage firm with manipulative trading of publicly traded stocks through an illegal practice known as “layering” or “spoofing.” The SEC also...
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