Archive for February, 2011
SEC Taps Hedge Fund IM Platform
The SEC has charged two securities professionals, a hedge fund trader, and two firms involved in a scheme that manipulated several U.S. microcap stocks and generated more than $63 million in illicit proceeds. The SEC recorded hundreds of supposedly secure instant messages (IMs) sent between Hunter World Markets Inc. and the London-based hedge fund manager Absolute Capital Management Holdings [...]
Wiretap Evidence To be Used In Hedge Fund Case
A US Judge ordered that hedge fund founder Raj Rajaratnam has to hand over the taped evidence to be used against him at the March 8 trial, Reuters reported today. The hedge fund founder was given untill March to provide expert testimony. However, the Judge ordered the wiretaps to be released immediately. Rajaratnam’s lawyer had requested the suppression of the telephone recordings [...]
Assets Frozen In Texas Hedge Fund Investigation
The SEC has frozen the assets of a Texas-based hedge fund trader who came under investigation due to large wire transfers and cash transactions. Hedge fund trader Chris Blackwell is alleged to have sold investments in a phony fixed income trading program. While pitching his trading program to an undercover agent whom Blackwell thought was a [...]
Winifred Jiau Pleads Not Guilty To Hedge Fund Securities Fraud
Hedge fund consultant Winifred Jiau has pleaded not guilty to conspiracy and securities-fraud charges in the Galleon investigation. Bail was set at more than $500,000. According to the Seattle Times, the Judge agreed to the bail “Only after she had pledged to turn over the deed to a $25,000 stretch of land and provide $50,000 [...]
Hedge Fund Lawyer: Some Galleon Wiretaps Are Private
A US federal Judge has asked to see a transcript of 18 spousal conversations in the case against Craig Drimal, a trader for the Galleon Group of hedge funds, The Las Vegas Sun reports. Federal agents were eavesdropping on the couple, it was revealed, intercepting 164 calls between Drimal and his wife during two months in late [...]
Former President’s Brother Under Investigation in Hedge Fund Dealings
The Nashville legal department is looking into the hedge fund run by Marvin Bush, brother of former president George W. Bush, to see if it is eligible to manage the city’s pension funds investment in hedge funds, after failing to disclose information about previous litigation. Nashville planned to invest in a $85 million for the [...]
CNBC Hedge Fund Specialist On The Run
Hedge fund manger and CNBC analyst, Brian Kim, is now wanted by the SEC over an alleged Ponzi scheme. The New York Daily News reported that Kim was indicted on grand larceny and other charges involving a $4 million scheme that began in 2003. Kim stands accused of swindling over 45 West Coast investors in New York. Kim failed to [...]
Dow Jones Credit Suisse Hedge Fund Index rose 0.69% in January
The Dow Jones Credit Suisse Hedge Fund Index rose 0.69% in January, with six out of ten sectors posting positive performance for the month. Convertible Arbitrage was the best performing sector, finishing up 2.16%. Positive performance was also seen in the Event Driven sector, which finished up 1.80%, with all three of its sub-indices posting [...]
Palladio Hires Hedge Fund Specialist Katherine Hill
Palladio Alternative Research has hired Katherine Hill as a Managing Director for the Geneva subsidiary. Katherine was most recently a Senior Hedge Fund Analyst at Saad Financial Services, a family office in Geneva. Palladio Alternative Research SA is headed by Sarah Clar-Boson, founding partner and a former Senior Hedge Fund Analyst at Optifin SA and UBP Alternative Asset Management Group. The [...]
BV Investment Partners Acquires Butterfield Fulcrum
Private equity firm BV Investment Partners (formerly Boston Ventures), has agreed to acquire hedge fund administrator Butterfield Fulcrum and family office specialist FORS Limited in partnership with industry veterans Glenn Henderson and Tim Calveley. “This investment reunites Tim and me with the senior management of Butterfield Fulcrum,” said Glenn Henderson, who will take on the [...]
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