Friday, 29 August 2014
Last updated 10 hours ago
Jun 17 2011 | 3:53am ET
Convicted hedge fund fraudster James Nicholson would like to be out of prison before his 80s. So he's blaming his lawyer for the 40-year sentence he received last year and asking the court for a do-over.
The Westgate Capital Management scammer, who ripped investors off to the tune of $140 million, has a new lawyer. And, unsurprisingly, that new lawyer doesn't think much of the job his old lawyer did.
"In an atmosphere of growing judicial criticism of the fraud guidelines and increasing disparity among sentences in fraud cases based on different judicial philosophies—precisely the disparity that national sentencing policy endeavors to eliminate—it was incumbent on counsel to preserve all sentencing challenges, not bargain them away for illusory gain," Andrew Frisch wrote. As part of Nicholson's plea agreement, he waived his right to appeal his sentence.
The New Jersey man had second thoughts when U.S. District Judge Richard Sullivan in November handed down a 40-year sentence; Frisch noted that Nicholson was under the impression that a sentence in excess of 20 years was "a theoretical but not a real possibility."
Frisch said Nicholson is not seeking to change his guilty plea.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...