Monday, 22 September 2014
Last updated 2 days ago
Apr 13 2011 | 4:27pm ET
Burton Wiand, the court-appointed receiver in the Arthur Nadel Ponzi scheme, will soon have some more time to focus on recovering assets from that fraud.
Wiand is set to wind up the receivership of another hedge fund fraudster, Howard Waxenberg, shortly. Victims of the $140 million scam will receive their final payments shortly, Wiand said.
Waxenberg's scheme cost investors some $36 million; Wiand said victims should get at least 28% of their losses. Waxenberg committed suicide in 2005, leading the SEC to seize his firm and assets.
Investors have already been paid $10.2 million by Wiand; a federal judge recently approved the final $274,276 in payouts.
Waxenberg launched his hedge fund in California after being barred from the securities industry for lying to investors. He later moved to Bradenton, Fla., which sits in between Nadel's base in Sarasota and Wiand's office in Tampa.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.