Sunday, 21 December 2014
Last updated 4 hours ago
May 13 2010 | 3:26am ET
Despite admitting he defrauded three investors of $290,000 in a hedge fund scam, a suburban New York stockbroker won’t spend a day in jail.
Michael Mollin pleaded guilty this week to second-degree larceny. He admitted that, instead of investing the money in his Ardent Investors Fund, he spent it on himself.
While he’ll be officially sentenced on Aug. 17, Mollin will serve only five years’ probation. He’s also been ordered to pay $140,000 in restitution before his sentencing and another $150,000 during his probation.
Mollin had faced up to 15 years in prison.
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.