Friday, 22 August 2014
Last updated 7 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 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note