Dreier Gets $20 Million Bond, Claims He Can’t Pay
Bloomberg - Marc Dreier, the New York lawyer jailed since his arrest for allegedly cheating hedge funds, won’t be able to post the $20 million bond that would free him, his lawyer told a federal judge....
View ArticleFACTBOX-Companies exposed to Madoff
Forbes – Following are some of the companies exposed to the alleged $50 billion securities fraud by Wall Street pioneer Bernard Madoff: * AUSTIN CAPITAL MANAGEMENT – The company managed money for the...
View ArticleTime flies with Nadel in custody
Herald Tribune – As Arthur G. Nadel made his way to New York Thursday under the watchful eye of U.S. marshals, the clock ticked away on the 30-day time limit faced by prosecutors to indict the man...
View ArticleHedge fund founder used phony firm, returns: authorities
Reuters – A hedge fund manager overstated values by hundreds of millions of dollars, set up a phony accounting firm and showed uniformly positive returns for nine years to defraud investors, U.S....
View ArticleFormer Merrill execs invested in Madoff funds
Reuters – Top former Merrill Lynch executives, including two former CEOs, invested in hedge funds that lost money with alleged fraudster Bernard Madoff, becoming the highest-level Wall Street victims...
View ArticleMadoff faces 150-year sentence after guilty plea
Hindustan Times - Bernard Madoff, whose $50-billion fraud devastated individual and institutional investors worldwide, could spend the rest of his life in prison after pleading guilty later this week....
View ArticleAviva moves to stop lending shares to hedge funds
Insurance giant Aviva could end the practice of lending shares to hedge funds in a move against short-selling. Aviva shares were battered on the stock market earlier this month – losing 40pc of their...
View ArticleNY State Pension Fund Linked to Millions in Kickbacks from Private Equity,...
New York (HedgeCo.Net) – Two high-ranking men who worked in the New York State comptroller’s office were arrested yesterday after it was discovered they took millions of dollars in kickbacks from...
View ArticleUS lawyer pleads not guilty to money laundering
BusinessWeek – A prominent Manhattan lawyer accused of peddling $700 million in phony securities to hedge funds will likely forgo a trial and change his plea to guilty, his attorney told a judge...
View Article$100 million recovered in hedge-fund fraud case
Seattle Times – An official appointed to recover the assets of a prominent Manhattan lawyer accused of defrauding hedge funds of at least $400 million says he has safeguarded more than $100 million in...
View ArticleAustrian banker who pleaded guilty in US might walk
SmartBrief – Michael Berger, an Austrian banker accused of securities fraud, might go free without facing any charges, Vienna prosecutors said. Berger pleaded guilty to securities fraud in Manhattan,...
View ArticleA Hedge Fund Executive Is Guilty of Securities Fraud
New York Times – A hedge fund executive has pleaded guilty to securities fraud and is cooperating with New York State Attorney General Andrew M. Cuomo’s investigation of corruption at the state pension...
View ArticleFund Manager Pleads Guilty in New York Pension Probe
Bloomberg – Barrett Wissman, a Dallas hedge fund manager, pleaded guilty to securities fraud as part of an investigation of corruption at New York’s $122 billion pension fund, state officials said....
View ArticlePension fund kickback accusation leveled in Albany
Democrat and Chronicle – The former chairman of the state Liberal Party was accused Wednesday of receiving at least $800,000 from the state pension fund as a kickback for helping elect former...
View ArticleFestival del Sole founder admits guilt in fraud
Napa Valley Register – The 2009 Festival del Sole will proceed in July as planned despite its founder’s guilty plea to securities fraud. Hedge fund executive Barrett Wissman has pleaded guilty to...
View ArticleFeds Charge Dreier Conspirator In Hedge Fund Fraud
North Country Gazette – A former registered broker with the National Association of Securities Dealers has been charged in a criminal information with conspiracy, securities fraud and wire fraud...
View ArticleLawyer 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...
View ArticleLawyer 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...
View ArticleCalifornia 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...
View ArticleAppeals 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...
View ArticleEx-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...
View ArticleLawsuit 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...
View ArticleCase 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...
View ArticleCitadel 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...
View ArticleAppeals 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...
View ArticleMd. 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...
View ArticleA 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...
View ArticleEx-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....
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