Category Archives: Hedge Fund Fraud
FINRA Issues Notice for Hedge Funds Using Social Media
New York (HedgeCo.net) – Last month the Financial Industry Regulatory Authority (FINRA), issued a regulatory notice giving guidance on how FINRA rules governing communication with the public apply to social media sites that are sponsored by a financial firm or […]
Rajaratnam & Chiesi Charged With a Superseding Indictment
New York (HedgeCo.net) – Raj Rajaratnam and Danielle Chiesi Federal have been accused with a 19-count superseding indictment by Federal prosecutors yesterday, Courthouse News Service reported. A superseding indictment is an indictment that is filed subsequent to an original indictment. […]
“Octopussy” Pleads Not Guilty To Hedge Fund Insider Trading, 6 Others
New York (HedgeCo.net) – Seven hedge fund traders and lawyers pleaded not guilty to securities fraud charges in the USA v. Goffer et al. case, according to Reuters. Zvi Goffer, dubbed “Octopussy”, appeared before Manhattan federal court Judge Richard Sullivan […]
Two Hedge Funds Charged Under SEC Rule Prohibiting Short-Selling
In one case this week, the SEC charged Los Angeles-based AGB Partners LLC and its principals Gregory A. Bied of Boise, Idaho, and Andrew J. Goldberger of Santa Monica, Calif., finding that they netted thousands of dollars in improper profits […]
Hedge Fund Ponzi Scammer’s Company Sold by Court
Nnew York (HedgeCo.net) – The director of South American Development Corporation (SADC), Jerry Gillman, has purchased Home Front Homes LLC, a Structural Insulated Panel manufacturer located in Englewood Florida. In 2006, Art Nadel using a hedge fund Ponzi scheme ended […]
UPDATED: Advisers Charged With $160 Million Nadel Related Hedge Fund Fraud
New York (HedgeCo.net) – The SEC has charged two investment advisers with securities fraud for misleading investors about the financial condition of three hedge funds they managed, and misrepresenting that they controlled the funds’ investment and trading activities when in […]
Ponta Negra Hedge Fund Manager Pleads Guilty
New York (HedgeCo.net) – Former Stamford hedge fund manager, Francesco Rusciano. waived his right to indictment and pleaded guilty today before US Judge Ellen Bree Burns in New Haven to one count of wire fraud. According to court documents and […]