Friday, 27 March 2015
Last updated 3 hours ago
Apr 20 2011 | 1:12pm ET
Indiana authorities have filed suit against a prominent hedge fund manager in the state, accusing him of stealing from investors.
Keenan Hauke “intentionally received funds from the bank accounts of Samex Partners,” his hedge fund, “that were illegally converted from investors,” the state’s lawsuit alleges. Last week, a judge froze Hauke’s assets and those of his firm, Samex Capital Advisors. Hauke and Samex are also barred from doing business pending an April 25 preliminary hearing.
“Hauke employed a device, scheme or artifice to defraud investors of Samex Partners,” according to the suit. “Specifically, he sold investments, in the form of hedge fund interests, to investors under the guise that the hedge fund invested in liquid publicly-traded securities.”
Hauke’s alleged misdeeds emerged earlier this month, when former Samex employee alerted state regulators to “financial irregularities” at the firm. A lawyer for Hauke said the whistleblower, Scott Noble, was merely seeking to steal Samex’s clients.
“I did not do this to pilfer clients,” Noble told the Indianapolis Business Journal, which ran a column by Hauke until last week. “I did this because there were documents that showed really bad things.”
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…