{"id":36866,"date":"2013-07-19T12:27:14","date_gmt":"2013-07-19T16:27:14","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=36866"},"modified":"2013-07-19T12:33:45","modified_gmt":"2013-07-19T16:33:45","slug":"preet-bharara-bayou-hedge-fund-victims-awarded-over-31-million","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2013\/preet-bharara-bayou-hedge-fund-victims-awarded-over-31-million.html","title":{"rendered":"Preet Bharara: Bayou Hedge Fund Victims Awarded Over $31 Million"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2013\/07\/preet.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-36869\" alt=\"Preet Bharara describes insider trading charges against Joseph &quot;Chip&quot; Skowron during a news conference in New York\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2013\/07\/preet-232x300.jpg\" width=\"232\" height=\"300\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2013\/07\/preet-232x300.jpg 232w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2013\/07\/preet.jpg 465w\" sizes=\"auto, (max-width: 232px) 100vw, 232px\" \/><\/a>New York (HedgeCo.Net) &#8211; The Southern District of New York has awarded $31,788,917.44 in proceeds from forfeited assets to victims of the fraud committed at the Bayou hedge funds. The forfeited assets include approximately $2 million seized from a bank account in Singapore and $1 million seized from a bank account in the UK.<\/p>\n<p>This brings the total value of the forfeited assets distributed to Bayou fraud victims to over $128 million.<\/p>\n<p>\u201cWe are dedicated to using forfeiture to compensate victims for their losses whenever possible.&#8221;\u00a0Preet Bharara, the United States Attorney for the Southern District of New York\u00a0said, &#8216;This return of money to Bayou fraud victims underscores the power and flexibility of forfeiture as a tool to help victims of major financial crimes. It also demonstrates our commitment to working with foreign governments to pursue and seize criminal proceeds that are transferred into offshore accounts.\u201d<\/p>\n<p>The Bayou Hedge Fund Group was a group of companies and hedge funds founded by Samuel Israel III in 1996. Approximately $450m was raised by the group from investors.<\/p>\n<p>Alex Akesson<br \/>\nEditor for\u00a0<a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.Net<\/a>\u00a0is a premier\u00a0<a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; The Southern District of New York has awarded $31,788,917.44 in proceeds from forfeited assets to victims of the fraud committed at the Bayou hedge funds. The forfeited assets include approximately $2 million seized from a bank [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16034,3],"tags":[],"class_list":["post-36866","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-rulings","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36866","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=36866"}],"version-history":[{"count":5,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36866\/revisions"}],"predecessor-version":[{"id":36868,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36866\/revisions\/36868"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=36866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=36866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=36866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}