Archive for May, 2010
Pole-Dancing Wife of Accused Ponzi-Schemer Ken Starr Seeing Spotlight Again
Celebrity investment adviser Kenneth Starr (not to be confused with the Clinton prosecutor) was arrested Thursday on charges of bilking his clients out of an estimated $30 million. Though not charged, his lovely wife, Diane Passage, a former Scores stripper and pole dancer who danced under the name “Chase” according to the Huffington Post and [...]
Celeb Financial Advisor Charged with Fraud
Kenneth Starr, a New York investment adviser with a long list of celebrity clients (not to be confused with the Ken Starr who prosecuted Clinton), was was arrested by U.S. agents on Thursday on charges of running an alleged investment fraud– more specifically a Ponzi scheme– of as much as $30 million. According to Reuters, [...]
Soros’ Ex Busted For Forging Rx Scripts
Former Miss Russia and hedge fund billionaire George Soros’ ex girlfriend Anna Malova was arrested in New York for forging a prescription on a stolen prescription pad for the narcotic Vicodin. Malova was charged with criminal possession of a controlled substance and forgery. According to the New York Daily News, lawyers for the 1998 beauty [...]
Two People Arrested in Disney Insider Trading Scheme
In a brilliant move, a former Disney employee and her boyfriend were arrested this morning in Los Angeles for allegedly trying to sell insider information regarding the media giant to various hedge funds for $15k a pop. Bonnie Hoxie, who worked as an assistant in Disney’s communications department, according to Dealbreaker, and her boyfriend, Yonni [...]
New York Cap Intro Event
Carried Interest Tax, Volcker Rule Introduced Today
Two proposed laws which have been in the works for quite some time were introduced today in both houses of Congress. If passed, the amended carried interest tax and Volcker rule would have serious ramifications for both private equity and hedge funds.
E.U. Moves Ahead with AIFM Directive Legislation
On Tuesday, E.U. finance ministers approved plans to reign in hedge funds with tough new oversight rules, overriding the objections of the UK (and, more specifically, the City of London), where some 80 percent of European hedge funds are estimated to be based. The proposed legislation aims to subject so-called “alternative investment funds” to greater [...]
Of performance fees and other such things
So according to the Financial Times, hedge funds can no longer be defined by their “2 and 20″ fee structure… apparently, due to popular demand/pressure from investors, most hedge funds have opted to lower their fees, with the average management fee in 2009 being 1.65 and the median being 1.5 according to alternatives information provider [...]
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