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Court Approves $1.8 Billion Settlement In SAC Hedge Fund Case
. Steven Cohen’s hedge fund SAC Capital Advisors has received court approval on a record criminal settlement for insider trading on Thursday, as a US judge accepted a guilty plea from the hedge fund...
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Hedge Fund Law: SEC Names David Gottesman as Deputy Chief Litigation Counsel
A member of the team that obtained admissions of liability as part of an $18 million settlement with hedge fund adviser Philip Falcone and his advisory firm Harbinger Capital Partners has been...
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Tech Company Insider Charged With Tipping Off Hedge Funds
The 45th defendant charged by the SEC in its ongoing investigation into the activities of expert networks has agreed to settle the SEC’s charges. The investigation has exposed widespread insider...
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More Than One Hedge Fund Hacked In Sophisticated Cybercrimewave
An unnamed hedge fund was attacked by cybercriminals in 2013, causing them to lose millions of dollars and disrupting the firm’s high-speed trading, CNBC reports. Tech company BAE Systems reported the...
View ArticleSAC Affiliate Settles SEC Insider Trading Charges For $600 Million
The US courts have approved a $600 million fine to settle SEC charges that hedge fund advisory firm CR Intrinsic Investors participated in an insider trading scheme involving a clinical trial for an...
View ArticleHedge Fund Manager Balboa Gets 4 Years In Prison
A portfolio manager for the now collapsed hedge fund Millennium Global Investments has been sentenced to 4 years in prison and 3 years of supervised release, The Wall Street Journal reports. Michael...
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Florida Hedge Fund Adviser Charged With $17 Million Fraud Scheme
A West Palm Beach-based hedge fund advisory firm and its founder have been charged by the SEC with fraudulently shifting money from one investment to another without informing investors, the South...
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Two Executives and A Hedge Fund Portfolio Manager Sentenced To Federal Prison
. Eric M. Martin, Mark Megalli, and Richard T. Posey have been sentenced to federal prison for their roles in a multi-million-dollar insider trading conspiracy involving children’s clothing company...
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Citigroup To Pay $7 Billion In Sub-Prime Mortgage Settlement
Citigroup has agreed to pay approximately $7 billion for its part in the financial crisis of 2008, the WSJ reports. Citigroup is accused of downplaying the risks of sub-prime mortgages when packaging...
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Louisiana Hedge Fund Manager Pleads Guilty To Fraud
A hedge fund manager has pleaded guilty to multiple counts of mail fraud based on his executing a $13 million investment fraud scheme that included victims in Louisiana, Mississippi, Texas and Florida,...
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Senate: Hedge Funds Used “Basket Options” To Dodge Taxes
Over a dozen hedge funds are accused of misusing a complex financial structure to claim billions of dollars in unjustified tax savings and to avoid leverage limits that protect the financial system...
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Barclays Capital Pays $15 Million For Compliance Failures After Acquiring...
Barclays Capital has agreed to pay a $15 million penalty and to undertake remedial measures after being charged by the Securities and Exchange Commission with failing to maintain an adequate internal...
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FBI Allege $311 Million Global Hedge Fund Fraud Scheme
New York (HedgeCo.Net) – Two business associates in the hedge fund management industry have been charged by the FBI with defrauding institutional investors and causing collective losses of more than...
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Former Citadel Employee Arrested for Theft of Hedge Fund Trade Secrets
- A young science engineer whippersnapper, Yihau Pu, also known as “Ben” has been sentenced to three years in federal prison, the Chicago Tribune reports. The prosecution said he “meticulously planned...
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FBI Raids Company With Link To Wolf Of Wall Street’s Danny Porush
FBI agents have raided a Florida medical device company run by Daniel M. Porush, who’s character inspired that of Donnie Azoff, in the movie Wolf Of Wall Street. An FBI spokesman said the agency is...
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Hedge Fund Manager Sentenced To 5 Years For Scamming Veterans, Retirees,...
A Louisiana hedge fund manager has been sentenced to sixty months’ imprisonment as a result of a mail fraud scheme in which he defrauded investors out of millions of dollars, the DOJ reports. Zachary...
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Hedge Fund Crime Ring Uncovered, A Dozen Criminals Brought to Justice
New York (HedgeCo.Net) – Nearly a dozen fraudsters who conspired to operate the $40 million Black Diamond hedge fund Ponzi scheme will be spending plenty of time behind bars after a joint effort by the...
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Couple Charged With Stealing $147 Million From Customers
After four weeks of trial, a federal jury in New York, returned guilty verdicts against Diane Kaylor and Jason Keryc, former employees of fictitious hedge fund Agape World, Inc. (Agape), on charges of...
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Hedge Fund Advisor BlackRock Settles With SEC For $12 Million
New York (HedgeCo.Net) – BlackRock Advisors LLC has agreed to settle SEC charges of failing to disclose a conflict of interest among its ranks and will pay a $12 million penalty. The hedge fund advisor...
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Married Couple Sentenced To Jail For Stealing $6.5 Million Through A...
. New York (HedgeCo.Net) – An Oklahoma husband and wife were handed prison sentences yesterday for stealing over $6.5 million from six victims who thought they were investing in a hedge fund. Linda...
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