Tag Archives: ponzi scheme
Galleon ‘Not Good News’ for Hedge Funds, Coleman Says
Bloomberg – The Galleon Group insider-trading investigation may sap investor confidence in the hedge-fund industry, already under scrutiny after Bernard Madoff’s Ponzi scheme, said Michael Coleman, chairman of the Singapore chapter of the Alternative Investment Management Association. “It’s obviously not […]
Geneva Funds See Inflows for First Time Since Madoff
Bloomberg – Geneva’s funds of hedge funds saw client inflows for the first time in 11 months in August, halting a slump that accelerated after losses related to Bernard Madoff’s Ponzi scheme. Net inflows were $30 million, after withdrawals of […]
Hedge Fund Settles Madoff Suit
News Inferno – One hedge fund has agreed to reimburse its investors who were swindled in the historic Ponzi scheme orchestrated by the disgraced, now jailed, financier, Bernard Madoff. The hedge fund—Fairfield Greenwich Advisors—apparently moved money to Madoff, said Boston.com, […]
SEC remains unfit to prevent next Madoff
Sentinel and Enterprise – After Bernard Madoff’s Ponzi scheme collapsed, having bilked charities, hedge funds and retirees of as much as $65 billion, the temptation is to say: “We’ve learned our lesson. That will never happen again.” Barring an overhaul […]
Edinburgh Hedge Funds Feel Madoff Effect as Clients Get Pickier
Bloomberg – Hedge funds in Edinburgh say they escaped any direct losses from Bernard Madoff’s Ponzi scheme. That doesn’t mean they’re not living with his legacy. Clients are demanding more disclosure, quicker access to their money and individual, rather than […]
Appeals Court Affirms Dismissal of Securities Fraud Against Hennessee Group
New York — The U.S. Court of Appeals for the Second Circuit has affirmed a district court’s decision that dismissed a securities fraud case against New York-based hedge fund investment adviser Hennessee Group LLC. In the 36-page opinion issued July […]
Citadel fund files $470 mln claim against Lehman
Reuters – Hedge fund Citadel Investment Group claims it is owed $470.5 million on derivatives contracts it held with Lehman Brothers, according to a claim filed in a New York bankruptcy court last week. Citadel, which manages around $12 billion […]
Madoff aide to plead guilty in Ponzi scheme
Newsday – Bernard Madoff’s top lieutenant in his Ponzi scheme is scheduled to plead guilty Tuesday to federal charges in what many legal observers believe is a cooperation deal that could lead to trouble for some major hedge fund operators. […]
Lawsuit says hedge-fund manager stole $750,000
Pittsburgh Post-Gazette – The family of a Cambria County manufacturer has filed a lawsuit claiming that a New York hedge-fund manager illegally took $750,000 from its trust fund. The lawsuit, filed by the family of Frank Calandra Jr., was moved […]
Geneva Funds of Funds Slump as Banks Struggle to Nullify Madoff
Bloomberg – Geneva banks, which began investing client money in funds of hedge funds during the 1960s, are struggling to rebuild the business after market losses and Bernard Madoff’s Ponzi scheme cut assets by 72 percent. The assets of funds […]
Geneva Funds of Funds Slump as Banks Struggle to Nullify Madoff
Bloomberg – Geneva banks, which began investing client money in funds of hedge funds during the 1960s, are struggling to rebuild the business after market losses and Bernard Madoff’s Ponzi scheme cut assets by 72 percent. The assets of funds […]
Hedging on Hedge Fund Scrutiny Fine With Court: Ann Woolner
Bloomberg – Let’s say you hand a million dollars or more to an investment advisory firm that boasts a sterling reputation, grand results and a promise to thoroughly investigate hedge funds before recommending them. For all the claims of super […]
