Monday, 30 March 2015
Last updated 9 hours 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…