Category Archives: Hedge Fund Fraud
Brother of Bayou’s Marino Pleads Guilty to Helping Hide Fraud
Bloomberg – The brother of former Bayou Group LLC finance chief Daniel Marino, who is serving 20 years in prison, pleaded guilty to a federal charge that he helped conceal a $400 million fraud at the bankrupt hedge-fund firm. Matthew […]
Biden’s Son, Brother Named in Two Suits
Washington Post – A son and a brother of Sen. Joseph R. Biden Jr. (D-Del.) are accused in two lawsuits of defrauding a former business partner and an investor of millions of dollars in a hedge fund deal that went […]
Hedge Fund Fraudster to Pay $300 Million Back to Investors
New York (HedgeCo.Net) – Paul Eustace, former head of Philadelphia Alternative Asset Management Company, has been ordered to pay back nearly $300 thanks to his fraudulent ways. According to a statement by the Commodity Futures Trading Commission, the Canadian resident […]
Eight Arrested in London Insider Trading Scheme
New York (HedgeCo.Net) – Eight people were arrested yesterday in London on suspicions of insider trading. The city of London police and about 40 Financial Services Authority officials targeted workers at UBS and JPMorgan Cazenove, in what they are […]
Judge Drops Suit Against UBS, Not Responsible for Hedge Fund Fraud
New York (HedgeCo.Net) – Service providers for hedge funds scored a victory yesterday when a New York judge threw out a suit filed against UBS by defrauded investors. Judge Charles Ramos dismissed the complaint in a Manhattan court at the […]
Man arrested in failed hedge funds
Cayman Net News- The Royal Cayman Islands Police Service (RCIPS) have arrested an unidentified 47-year-old man in connection with last month’s collapse of several Cayman-domiciled investment funds. Detectives from the Financial Crimes Unit (FCU) arrested the man on suspicion of […]
Goldman May Take Heat for Bayou Hedge Fund Fraud
New York (HedgeCo.Net) – Disdained investors of the former Bayou hedge fund, run by one-time fugitive Sam Israel, are going after Goldman Sachs for $20 million to try and recover some of their losses. Goldman Sachs served as the prime […]
No Bail for Hedge Fund Schemer Israel
New York (HedgeCo.Net) – Chances are, when you stage a suicide to avoid a 20-year prison sentence and spark an international manhunt, you’re probably not going to have the luxury of being granted bail. That’s exactly what happened when Judge […]
Hedge Fund Fraudster Manhunt Comes to an End
New York (HedgeCo.Net) – The international man hunt for Sam Israel came to an end yesterday when the hedge fund fraudster turned himself over to authorities. Israel turned himself into the Southwick, Mass., police station around 9:30 a.m., said […]
Bear Stearns Not Liable for Fraudulent Fund
New York (HedgeCo.Net) – Bear Stearns has triumphed in a case involving disgruntled investors seeking $141 million for the losses they incurred following the collapse of the Manhattan Investment Fund Ltd., a hedge fund where Bear served as the prime […]
Hedge fund arrests send chill through industry
Reuters – Pictures of hedge fund managers in handcuffs being led away to face fraud charges on Thursday have sent a chilling message to the $2 trillion (1 trillion pound) industry. The warning was clear: mind what you say in […]