Thursday, 25 December 2014
Last updated 18 hours ago
Mar 26 2010 | 4:00am ET
A hedge fund accused of defrauding investors and its manager have been ordered to pay more than $4 million in restitution and penalties.
A federal court in Atlanta has ordered Lake Dow Capital and Ty Edwards to pay nearly $2.3 million in restitution and $1.9 million in civil monetary penalties at the request of the U.S. Commodity Futures Trading Commission. The regulator accused Edwards and his firm in 2005 of fraudulently soliciting more than $26 million for his commodity hedge fund, Aurora Investment Fund, and misappropriating much of the money.
The restitution and fines come on top of more than $19 million seized from Edwards and since returned to his alleged victims.
Three years ago, the CFTC won permanent bans from participating in commodities trading against Lake Dow and Edwards.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.