Thursday, 18 September 2014
Last updated 13 hours ago
Apr 1 2010 | 8:39am ET
A Las Vegas hedge fund—which may or may not even exist—is being accused of defrauding an investor of $8 million.
The managers of the Black Card Group collected the money from the Urata family, presenting the fund as an “exclusive” and “really safe” investment vehicle, the family alleges. Now, the Uratas say, they’re not even sure that Black Card exists at all. If it does, “the managers were not competent to manage an investment fund,” they allege.
Those managers are Ethan Conrad, Harrold Pressly and Frank Sim, according to court documents. The lawsuit accuses them of negligence, breach of contract and misrepresentation.
The Uratas are seeking $8.2 million in damages.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.