Sunday, 29 March 2015
Last updated 2 days ago
Apr 25 2011 | 11:47am ET
A jailed former hedge fund manager faces decades more in prison after prosecutors accused him of defrauding his cycling coach and violating a trading ban after his alleged Ponzi scheme collapsed.
Mark Trimble, who was sentenced to 10 years in prison in November after pleading guilty to stealing client assets in April, now faces new charges of wire and mail fraud and money laundering. According to prosecutors, he offered to invest his coach's money in spite of a Commodity Futures Trading Commission ban imposed in March 2009. The coach allegedly sent Trimble $111,000 between September 2009 and January of this year, when Trimble finally went to jail.
The coach lost some $40,000 of the money he invested with Trimble, who had it sent to bank accounts in the names of his wife and son. And as with his previous scam, prosecutors say Trimble used much of the money on himself.
Trimble seemed unable to stay out of trouble after he agreed to have a receiver appointed to oversee his Phidippides Capital Management in February 2009. He was slapped with two contempt of court findings by the CFTC, the second for hiding and spending money in an account in his wife's name.
If convicted of the new charges, Trimble faces an additional 30 years in prison.
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…