Monthly Archives: March 2011
Hedge Fund Tax Alert: Cayman Islands Secures Agreement with India
New York (HedgeCo.net) – The Cayman Islands signed its twenty-second Tax Information Exchange Agreement (TIEA) with India yesterday. The Cayman Islands is on the Organisation for Economic Cooperation and Development’s (OECD) ‘white list’ of jurisdictions that implement international tax standards for […]
Jury hears more tapes at NYC insider trading trial
WSJ – Jurors at the insider trading trial of a hedge fund manager listened on Monday to more wiretaps that prosecutors say show he was brazenly trading on secret information about pending technology industry deals to help make himself one […]
Rajaratnam made millions on tips from Indian Americans
Hindustan Times – Hedge fund tycoon Raj Rajaratnam made $4 million in a day by doubling his stake in Hilton thanks to a tip from an Indian origin Moody’s analyst, federal prosecutors have charged. The Sri Lankan American co-founder of […]
The Dumbest Insurance Fraud Cases of All-Time
With insurance fraud cases on the rise as people struggle through a tough economy, Life Quotes, Inc. and the Coalition Against Insurance Fraud reveal the Dumbest Insurance Fraud Cases of All-Time. Desperation, greed and the lack of common sense are […]
Phil Falcone Pays Back Loan He Took From Investors To Pay Personal Taxes
DealBreaker – Several months back, it came to light that Phil Falcone had loaned himself some $113 million from one of Harbinger’s funds to pay personal taxes. He didn’t tell anyone about it at the time because he hadn’t thought it […]
With big bucks on the line, Randy Lerner gives voice to his thoughts
Crain’s Cleveland Business – “The hedge fund started up in 2007 with a dream of profiting from the woes of others, or distressed investing, as the pros call it,” The Journal blog reports. “Paige Capital says Lerner agreed to a ‘gating’ provision […]
Open Up. It’s the FBI.
aiCIO Magazine – Last November 22, the FBI raided the headquarters of three major hedge funds: Level Global Investors, Diamondback Capital, and Loch Capital Management. It was the first real action by the Feds after a days-old whisper campaign from regulators […]
Changing the Prime Brokerage Pricing Landscape
West Palm Beach (HedgeCo.net) – An editorial by Evan Rapoport, Co-Founder of HedgeCo Networks. Currently, and over the past nine years, I have been selling Prime Brokerage for almost all the major Mini-Primes and some of the largest Prime Brokerage […]
Confirmed: Facebook Acquires Snaptu (For An Estimated $60 – $70 Million)
Tech Crunch – According to several Israeli business newspapers (TheMarker, Calcalist) Facebook has acquired Snaptu for an estimated $60 – $70 million, although some reports peg the price lower, at around $40 million. Update: a Snaptu executive has confirmed the acquisition to our […]
MarketRiders Launches All-ETF Energy Hedge Portfolio
Press release – The high cost of oil and the fast-rising price of gas is stimulating the markets this month — but in the wrong direction. To help investors who want to profit from and have a portfolio hedge from […]
Hedge fund deposits not always welcome in Zurich
Guardian – GlaxoSmithKline boss Andrew Witty should be warmly commended for his engagingly old-fashioned view that a corporation is not a shiftless, stateless legal fiction that can be whisked off to the Cayman Islands at the wave of an accountant’s […]
UK Hedge Fund Pays Over $40 Million For “The Twitter Predictor”
New York (HedgeCo.net) – A London-based hedge fund is investing 25 million pounds ($40.67 million) in the hope that Twitter research can accurately predict the stock market, according to IU campus paper The Indiana Daily Student. The hedge fund’s founder, […]