Tag Archives: ponzi scheme
Report: Hedge fund owner in Petters case denied bail
Birmingham Business Journal – The owner of a Chicago hedge fund charged with helping Tom Petters fund his $3.5 billion alleged Ponzi scheme was denied bail Tuesday, reversing a bail decision last week, according to media reports. Gregory Bell was […]
Highland Park-based hedge fund manager granted bail
Chicago Tribune – Illinois hedge-fund manager Gregory Bell, who was charged with wire fraud for his role in an alleged Ponzi scheme, was granted $1.5 million bail and required to wear an electronic monitor, a federal judge in Minnesota ruled […]
Appeals Court Dismisses Fraud Charges Against Hedge Fund Advisor Hennessee Group
HedgeCo.net (West Palm Beach) – The U.S. Court of Appeals affirmed a district court’s decision that also dismissed a securities fraud case against New York-based hedge fund investment adviser Hennessee Group LLC. Judge Colleen McMahon of the U.S. District Court […]
SEC Freezes Assets of Illinois-based Hedge Fund Manager Who Was $2 Billion Feeder to Petters Ponzi Scheme
Kansas City infoZine – The SEC’s complaint, filed in U.S. District Court for the District of Minnesota, alleges that Gregory Bell and Lancelot Management LLC invested more than $2 billion in hedge funds assets with Petters and pocketed millions of […]
Dreier Describes Downfall in Letter Seeking ‘Rational’ Term for Fraud, Theft
Law.com – Marc S. Dreier on Wednesday sent a confessional letter to the federal judge who will sentence him on Monday (pdf), describing in remarkable detail how he funded the once-admired expansion of Dreier LLP by committing frauds totaling more […]
Experts respond to SEC proposals
Caymen Net News – Local hedge fund experts have reacted favourably to last week’s proposals by the Inspector General of the US Securities and Exchange Commission (SEC) to increase fund regulation. The SEC has proposed that regulation of hedge funds […]
Madoff asks for 12 years for Ponzi conviction
Denver Post – Bernard Madoff asked a federal judge this week to sentence him to as little as 12 years in prison after he pleaded guilty earlier this year to operating a massive, decades- long Ponzi scheme. In a letter […]
Switzerland Investigates Santander
Wealth Bulletin – Geneva’s public prosecutor said he has launched a criminal investigation into allegations that Banco Santander SA’s hedge-fund unit misled investors when it funneled their money into Bernard L. Madoff’s Ponzi scheme. The formal investigation was opened following […]
It’s Thankless, but He Decides Madoff Claims
New York Times – The Ponzi scheme’s victims denounce him as cold-hearted, dishonest and just plain wrong No, they are not describing Bernard L. Madoff, the author of the fraud that has ruined their lives. They are criticizing Irving H. […]
Spanish bank to repay $235M it withdrew from Madoff scheme
USA Today – A Spanish banking giant that channeled $3 billion of its clients’ funds to Bernard Madoff has agreed to repay more than $235 million it withdrew from the confessed Ponzi scheme architect in the months before the scam […]
Hedge Fund Insurance Costs Rise as Lehman, Madoff Spur Scrutiny
Bloomberg – The cost of insuring hedge funds against negligence has risen as much as 20 percent in the past six months after Lehman Brothers Holdings Inc.’s bankruptcy and Bernard Madoff’s Ponzi scheme increased the threat of lawsuits. A fund […]
Fairfield Hedge Funds Sued by Madoff Trustee
Newsinferno.com – Bernard Madoff trustee, Irving Picard, has sued three Fairfield Greenwich Group hedge funds—Fairfield Sentry Ltd., Greenwich Sentry LP, and Greenwich Sentry Partners LP—in a clawback suit that seeks the return of $3.54 billion to repay victims of Madoff’s […]
