Friday, 19 September 2014
Last updated 3 hours ago
Jul 26 2010 | 12:57pm ET
David Zilkha should have read his William Congreve.
Hell has no fury like a woman scorned, but Zilkha’s ex-wife now has $1 million courtesy of the federal government and Zilkha’s former employer, Pequot Capital Management.
Karen Kaiser and her new husband, Glen, were awarded $1 million for blowing the whistle on an alleged insider-trading scheme at the famed, and now defunct, Connecticut hedge fund. Kaiser discovered some potentially damning e-mails between her husband and Pequot employees, including founder Arthur Samberg, during their divorce five years ago. She turned them over to the Securities and Exchange Commission—which led the regulator to reopen its insider-trading probe of Pequot, which it had closed three years ago due to “insufficient evidence.”
In May, Samberg and Pequot settled the charges for $28 million, including $10 million in fines. Under a 20-year-old program at the SEC, whistleblowers are eligible for up to 10% of the fines paid in a case. The Kaisers are the biggest beneficiaries ever of that program.
Samberg shuttered Pequot last year after the SEC relaunched its investigation.
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.