{"id":3450,"date":"2005-10-12T00:00:00","date_gmt":"2005-10-12T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"refco-used-hedge-fund-in-430m-flap","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2005\/refco-used-hedge-fund-in-430m-flap.html","title":{"rendered":"Refco used hedge fund in $430M flap"},"content":{"rendered":"<p>  <span class=\"t003\">NEW YORK (MarketWatch) &#8212; Refco&#8217;s suspended chief Phillip Bennett allegedly used a hedge fund to disguise $430 million in debts to the company, media reports on Wednesday  said.<\/span><\/p>\n<p>Liberty Corner Capital was paid for telling Refco&#8217;s auditors that it owed the debts even though Bennett&#8217;s companies owed the money, the Wall Street Journal and the Financial Times both reported,each citing anonymous sources.<\/p>\n<p>  <span class=\"quotedToolTipBox\"><img class=\"pixelTracking\" height=\"1\" width=\"1\" border=\"0\">Refco shares shed another 11% Tuesday in their second big decline following the company&#8217;s disclosure of a  $430 million payment from Bennett for an &#8220;undisclosed affiliate transaction.&#8221; Bennett has repaid the money, the company said on Monday.<br \/><\/span><\/p>\n<p>  <a href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7BDF01D229-7FD8-4297-9DD8-DDEBAAC81CEA%7D&amp;siteid=google\"><strong>Read Complete Article<\/strong><\/a><\/p>\n<p>  &nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK (MarketWatch) &#8212; Refco&#8217;s suspended chief Phillip Bennett allegedly used a hedge fund to disguise $430 million in debts to the company, media reports on Wednesday said. Liberty Corner Capital was paid for telling Refco&#8217;s auditors that it owed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3450","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/3450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=3450"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/3450\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=3450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=3450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=3450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}