Thursday, 7 May 2015
Last updated 12 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…