Tuesday, 16 September 2014
Last updated 12 hours ago
Mar 17 2010 | 1:26pm ET
A North Carolina hedge fund manager has been accused of defrauding investors of hundreds of thousands of dollars in what regulators call an “out and out scam.”
Dennis Hagemann was arrested and charged last week with securities fraud and obtaining property by false pretense. According to prosecutors, his Yellowstone Partners hedge fund was nothing more than a Ponzi scheme that netted some $700,000 from at least nine investors.
Hagemann allegedly told clients Yellowstone invested in currencies, producing gains of 100% to 300%. But he actually pocketed the money, prosecutors said.
“Folks, that is just out and out scam territory,” North Carolina Secretary of State Elaine Marshall said of the triple-digit promises. “You ought to just grab your pocketbook and run.”
Hagemann, who was released on $250,000 bond, also faces civil charges filed by the Commodity Futures Trading Commission.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?