Category Archives: Hedge Fund Fraud
Rajat Gupta To Receive Sentence For Hedge Fund Fraud Today
New York (HedgeCo.Net) – At 2:00pm today Rajat Gupta, a former member of the Board of Directors at Goldman Sachs, will receive his prison sentence by U.S. District Judge Jed Rakoff. Gupta was found guilty on June 18th 2012 by a jury […]
Norfolk Hedge Fund Manager Indicted
New York (HedgeCo.Net) – Jeffrey Martinovich, a Norfolk hedge fund manager was indicted on 26 charges of fraud over the weekend. According to a news release from the U.S. Attorney’s Office in the Eastern District of Virginia Martinovich was charged with mail fraud, […]
Ex-SAC Capital Manager Tells FBI Fund Used Insider Data
Bloomberg – A former SAC Capital Advisors LP portfolio manager told the FBI it was “understood” that those assigned to give their best trading ideas to founder Steven A. Cohen would provide him with insider information, according to an agent’s […]
Judge Flips Out On Hedge Fund Manager Accused Of Pretending To Own Facebook Shares
Business Insider – He allegedly lied to investors about owning shares in some hot tech companies, missed his flight and delayed his hearing. He even caused mass confusion once he made it to court, but a judge still wasn’t ready to […]
Florida Hedge Fund Manager Sentenced In Alabama
New York (HedgeCo.Net) – The Florida hedge fund manager that surrendered watches, cars, an airplane and a backpack of cash earlier this month has been sentenced to five years in prison for conspiracy, securities fraud, wire fraud and money laundering. “Klatch acknowledged […]
Hedge Fund Insider Trading: Rajiv Goel Sentenced To Probation And Fines
New York (HedgeCo.Net) In the latest Galleon hedge fund indictment, Rajiv Goel, a former Intel Corp. executive, received leniency after apologizing saying he was “deeply ashamed….. I had a serious lapse of judgment and good sense.” The US federal court in New York on Monday sentenced him […]
Wiretaps: Rajaratnam’s Hedge Fund Insider Trading Appeal Set For October 25
New York (HedgeCo.Net) – A panel of three judge from the federal appeals court is scheduled to hear arguments from hedge fund founder Raj Rajaratnam in a bid to overturn his insider trading conviction. Rajaratnam is pleading on the grounds that the […]
UPDATE: SEC Charges Poker Buddies With Hedge Fund Insider Trading, Guilty Plea
New York (HedgeCo.Net) – The SEC has alleged that Hyung Lim of Los Altos, Calif., received up to $15,000 and stock tips about a pending corporate acquisition for regularly providing a fellow poker player, Danny Kuo, with nonpublic details ahead of Nvidia Corperation’s quarterly […]
Nadel’s Hedge Fund Ponzi Scheme Victims Receive $25 Million Settlement
New York (HedgeCo.Net) – A case that has been pending for over three years, S.E.C. v. Arthur Nadel, has been somewhat resolved. Lead attorney at Wiand Guerra King P.L., Burton Wiand, who was appointed receiver for various entities associated with Arthur Nadel’s Ponzi scheme, […]
Hedge Fund Fraud: Whitman Joins the Ranks of Rajaratnam Guilty Verdicts
New York (HedgeCo.Net) – The manager of a $100 million hedge fund, Doug Whitman, has been convicted of insider trading. “Douglas Whitman now joins the grim procession of convicted Wall Street professionals who decided that the rules don’t apply to […]
Witness For Whitman Prosecution Tells Of Her Hedge Fund Insider Trading Involvement
New York (HedgeCo.Net) – Roomy Khan, a government co-operator in the biggest hedge fund insider trading conspiracy in US history, spoke yesterday at the trial of San Francisco hedge fund manager Doug Whitman who stands accused of making almost $1 million using insider tips […]