Wednesday, 27 August 2014
Last updated 4 hours ago
Mar 28 2011 | 1:22am ET
Two admitted hedge fund fraudsters have been sentenced to a year in prison for each million they cost investors.
Igor Levin and Yevgeny Shvatsshteyn were each ordered to serve 87 months in prison, slightly more than seven years, for defrauding investors of more than $7 million. U.S. District Judge Sidney Stein also ordered the two to pay that amount in restitution.
Levin and Shvatsshteyn pleaded guilty in December. The two said they never invested the money entrusted to them in international real estate, as promised, instead sending it to banks in Levin's native Ukraine. The millions appear to have disappeared.
Levin faces deportation to the Ukraine after completing his sentence.
It's not the first trip up the river for either man: Shvatsshteyn served more than two years in prison a decade ago for mail fraud, while Levin did 11 months for a firearms violation in the early 1990s.
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 ...