Category Archives: Hedge Fund Fraud
Wiretaps Reveal That Shimoon Sold Apple Secrets To Hedge Funds
New York (HedgeCo.net) – Walter Shimoon pled guilty yesterday to two counts of conspiracy to commit securities fraud and wire fraud and one count of securities fraud. CNN Money says: Shimoon, a fomer director at Flextronics, a Singapore-based company that […]
SFO Aiding SEC In Sovereign Wealth Fund Probe
WSJ: U.K. prosecutors are helping the U.S. Securities and Exchange Commission with inquiries into whether financial firms violated foreign bribery laws in their dealings with sovereign-wealth funds. “We’re talking to the Americans about various issues,” Richard Alderman, director of the […]
SEC recovers millions in hedge fund Ponzi case
WASHINGTON (Reuters) -U.S. securities regulators said they have recovered $229.4 million from an offshore fund held by a Connecticut-based hedge fund whose manager pleaded guilty this year to running a Ponzi scheme. The Securities and Exchange Commission said in a […]
Celebrity Poker Winnings Came From Hedge Fund Ponzi Scheme, Victims Claim
New York (HedgeCo.net) – Tobey Maguire, Leonardo DiCaprio, Ben Affleck and Matt Damon are among a dozen high-profile celebrities alledged to have been involves in an illegal poker ring. Some of the celebrities are being sued, according to Star Magazine, […]
New Yorker Review: Preet Bharara on the Galleon Hedge Fund Trial
New York (HedgeCo.net) – The June 27, 2011, issue of The New Yorker, on page 42, “A Dirty Business”, George Packer, writes about the biggest insider-trading case in history, and has an exclusive interview with Preet Bharara, the United States Attorney for the […]
Washington Hedge Fund Pegasus Settles With SEC
New York (HedgeCo.net) – Washington-based hedge fund manager Pegasus Investment Management LLC (PIM) has agreed to pay a total of $165,000 to settle a SEC charge of failing to disclose to fund investors its receipt of cash payments from a third party. […]
Huston Hedge Fund Manager Convicted For Fraud
New York (HedgeCo.net) – Houston-based hedge fund manager Adley H. Abdulwahab, was convicted over the weekend by a federal jury for his role in a $100 million hedge fund fraud scheme with more than 800 victims across the United States […]
Oil Trade and Hedge Fund Fines Hit $200 Million in 2010
New York (HedgeCo.net) – Yesterday, the U.S. futures regulator sued two oil traders and their employers, the Arcadia and Parnon Energy Firms, charging they booked $50 million in profits by manipulating oil prices in 2008, according to a Reuters report. “The U.S. […]
SEC Charges Connecticut Hedge Fund Manager in Ponzi Scheme
New York (HedgeCo.net) – The Securities and Exchange Commission charged Highview Point Partners, LLC., a Connecticut-based hedge fund manager, with engaging in a multi-year Ponzi scheme involving hundreds of millions of dollars. The SEC also named three hedge funds managed […]
Rajaratnam Hedge Fund Debacle Just “Tip of the Iceberg” For Rajat Gupta
New York (HedgeCo.net) – Being entangled with the Galleon hedge fund scandal was just the tip of the iceberg for former McKinsey partner Rajat Gupta, according to the 2011 July issue of Bloomberg Markets magazine. At McKinsey, a firm known […]
Palm Beach Hedge Fund Managers Plead Guilty In Petters Case
New York (HedgeCo.net) – Two Florida hedge fund managers, David William Harrold and Bruce Francis Prevost, pleaded guilty at the end of last week to four counts of securities fraud. The FBI has accused the two of misrepresenting their hedge […]