Tuesday, 31 March 2015
Last updated 6 min 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…