Wednesday, 1 October 2014
Last updated 10 hours ago
Sep 17 2010 | 1:13am ET
Robert White, whose forgeries helped fuel Thomas Petters’ $3.65 billion Ponzi scheme, has been sentenced to five years in prison.
White admitted he forged 10,000 documents that Petters, a Minnesota businessman and hedge fund manager, used to show investors purported consumer electronics sales backing bogus notes. At least 20 hedge funds were victimized by the scam, and at least one helped him cover up his crimes. Petters was convicted of fraud last year and sentenced to 50 years in prison.
White testified against Petters and “built up the government’s case in a major way,” U.S. District Judge Richard Kyle said. But Kyle rejected White’s bid to receive the same year-and-a-day sentence as Petters whistleblower Deanna Coleman. Still, White could have received up to 20 years in prison; with good behavior, he could be out of prison in three years.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...