Wednesday, 1 October 2014
Last updated 3 hours ago
Mar 15 2011 | 12:55pm ET
John Xanthoudakis, the former hedge fund honcho accused of masterminding a C$120 million fraud, has been arrested.
The fourth and final suspect in the case to be apprehended, Xanthoudakis was taken into custody at Montréal's Pierre-Elliott-Trudeau International Airport this morning upon his return from Bermuda. He is set to appear in court this afternoon.
Two weeks ago, prosecutors in Québec charged Xanthoudakis, the former president of collapsed hedge fund Norshield Financial Group, with 36 counts of fraud and forgery. According to the authorities, Xanthoudakis and Ronald Weinberg, president of Canadian children's television production and animation company Cinar, set up a scheme to illegally invest Cinar's capital in Norshield to reap the profits for themselves and for two other alleged co-conspirators. The plan backfired when Norshield collapsed in 2005, leading Cinar shareholders to sue the defunct hedge fund.
Norshield's collapse cost investors some C$159 million.
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...