Sunday, 29 November 2015
Last updated 1 day 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…