Category Archives: Developing Stories
US Fed Doubles Rajaratnam Hedge Fund Allegations
New York (HedgeCo.net) – U.S. prosecutors yesterday filed papers saying Raj Rajaratnam’s profits in the alleged Galleon hedge fund scheme are higher than previously thought. Federal prosecutors doubled the sum to $36 million from the previous allegations of $17 million […]
Marshall Wace To Spend Over $87 Million On Hedge Fund Bonuses
New York (HedgeCo.net) – The hedge fund manager of Eureka Fund, Europe’s largest telecom, media and technology sector hedge fund is set to pay out £54.8 million ($87.6 million) in bonuses, according to UK newspaper The Daily Mail. The hedge […]
Rajaratnam and Chiesi Plead Not Guilty In Hedge Fund Fraud Case
New York (HedgeCo.net) – Hedge fund manager Raj Rajaratnam and executive at New Castle Funds LLC. Danielle Chiesi appeared in Manhattan federal court to plead not guilty to insider trading, conspiracy and securities fraud. The indictment includes 17 counts of […]
UK to Look Into Russia Hedge Fund Corruption Claims
New York (HedgeCo.net) – Commenting on the death of hedge fund Hermitage Capital’s anti-corruption lawyer Sergey Magnitskiy, the U.K. Prime Minister said he was “Deeply concerned to hear of the death,” and, “I welcome the Russian undertaking that there will […]
Khan’s Plea Accepted At Hedge Fund Billionaire Raj Rajaratnam’s Trial
New York (HedgeCo.net) – Hedge fund consultant Roomy Khan made her first public appearance a Manhattan court yesterday, according to Bloomberg. In October of this year, Khan pleaded guilty to a criminal information charging her with conspiracy to commit securities […]
Manager Gets 24 Years In Hedge Fund Fraud Case
New York (HedgeCo.net) – Hedge fund manager Won Sok Lee was sentenced this week by Judge Kenneth Ryskamp on wire fraud charges for his participation in a massive hedge fund fraud scheme, according to the Miami FBI. Lee was sentenced […]
Rajaratnam and Chiesi Indicted In Hedge Fund Fraud Case
New York (HedgeCo.net) – Galleon hedge fund founder Raj Rajaratnam and Danielle Chiesi, an executive at New Castle Funds LLC were indicted Tuesday on multiple counts of conspiracy and securities fraud. “Mr. Rajaratnam is innocent and looks forward to his […]
Cyprus as a Hedge Fund Epicenter – Interview With The Cyprus Trade Commissioner
New York (HedgeCo.net) – There has been a recent focus on financial services and the hedge fund space in Cyprus, the UN went so far as to declare Cyprus the forerunner for the new Luxembourg UCITS model. The government, working […]
Hedge Funds Settle Deutsche Bank Suit
New York (HedgeCo.net) – Three hedge funds managed by $24.8 billion Highland Capital Management, L.P. have agreed on a settlement with Deutsche Bank AG. The hedge funds’ had filed suit against Deutsche Bank and Deutsche Bank against the hedge funds. […]
Galleon Hedge Fund Founder Investigated 10 Years Ago
New York (HedgeCo.net) – Hedge fund founder Raj Rajaratnam was investigated by federal prosecutors ten years ago according to legal filings obtained by The Wall Street Journal. The paper reported that the prosecutors were unable to prove their allegations at […]
Old Lane Founders Launch $300 Million Equities Hedge Fund
New York (HedgeCo.net) – In one of this years biggest U.S. based hedge fund launches, four of the founders of the now defunct Citigroup hedge fund, Old Lane, have a new start up hedge fund, Meru Capital Group. The hedge […]
FINRA Fines Terra Nova Financial $400,000; Firm Made Over $1 Million in Improper Soft Dollar Payments
New York – The Financial Industry Regulatory Authority (FINRA) today announced that it has fined Terra Nova Financial, LLC, of Chicago, $400,000 for making more than $1 million in improper soft dollar payments to or on behalf of five hedge […]
