Tuesday, 30 September 2014
Last updated 48 min 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...