Tuesday, 21 April 2015
Last updated 3 hours ago
Jun 28 2011 | 4:51pm ET
The Securities and Exchange Commission has secured nearly $230 million for the victims of Francisco Illarramendi's hedge fund fraud.
The regulator said today that it recovered the $229.4 million from an offshore fund held by Highview Point Partners, one of Illarramendi's two hedge funds. Illarramendi pleaded guilty to running a $540 million Ponzi scheme in March.
"We're pleased with the return of the money to the U.S. and believe it will help preserve these assets for the benefit of defrauded investors," David Bergers, head of the SEC's Boston office, said.
The assets were returned to the U.S. last week and will be held by the SEC until its lawsuit against Illarramendi is resolved.
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…