Thursday, 28 August 2014
Last updated 59 min ago
Nov 8 2010 | 11:22am ET
More than a year after his arrest on suspicion of fraud, the founder of hedge fund K1 Group may finally be charged.
Helmut Kiener, who has been in custody since his arrest last October, may be charged this week or next, Bloomberg News reports. The investigation into the alleged Ponzi scheme, which may have cost investors and K1's banks and brokers almost €400 million, is nearing completion, a spokesman for the Würzburg, Germany, prosecutor's office.
"The exact amount of damage the scheme caused will be disclosed once we file the charges," Dietrich Geuder told Bloomberg. "We will also say then whether other suspects will be indicted."
Germany has also arrested David Zuendorf of K1's administrator, Treukapital Treubandverwaltung. In addition, two Kiener associates have been arrested in the U.S., and Dieter Frerichs, a former managing director of two K1 funds, committed suicide in July to avoid arrest.
Kiener has consistently denied the allegations.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...