Wednesday, 23 July 2014
Last updated 1 hour ago
Jan 14 2011 | 1:21pm ET
A Long Island hedge fund manager has been arrested for allegedly threatening the lives of 47 regulatory officials, including at the Securities and Exchange Commission and Commodity Futures Trading Commission.
Vincent McCrudden was arrested last night after he got off a flight from Singapore to Newark, N.J. According to prosecutors, the Alnbri Asset Management and PLNBM Asset Management chief also targeted staffers at FINRA and the National Futures Association.
According to court filings, McCrudden last month posted a long rant on his Web site that concluded, "Go buy a gun and let's get to work in taking back our country from these criminals. I will be the first to lead by example." He allegedly included an "execution list" with the 47 names, which have not been released.
"These people have got to go!" McCrudden allegedly wrote. "I need your help, there are just too many for me alone."
Things took an even scarier turn a few days later, when McCrudden is accused of offering $100,000 for home addresses, phone numbers and background information of the "corrupt Government people" or information proving that the 47 had been punished. And in September, the Federal Bureau of Investigation said he sent an e-mail to a government official warning, "you're a deal man!" and "It wasn't ever a question of 'if' I was going to kill you, it was... a question of when."
McCrudden, who worked at formerly worked at ICAP, made the threats after being hit with an enforcement action by the CFTC. In October, he sued the SEC, CFTC, FINRA, NFA and several officials at those regulators for harassment, seeking $1 billion.
McCrudden is set to be arraigned today in Central Islip, N.Y. If convicted, he faces up to five years on each count.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…