Wednesday, 17 December 2014
Last updated 5 hours ago
Jul 5 2011 | 12:47pm ET
An allegedly phony hedge fund manager is facing jail after he was charged with running a $7 million Ponzi scheme.
Charles Vaughn promised returns of up to 50% per year, prosecutors allege, winning the money from at least 25 people. But, according to the complaint, he spent the money on himself and on paying out redemptions to other investors in his CM Vaughn fund.
The Atlanta man recruited investors in Georgia, Florida, Michigan, North Carolina and Tennessee, guaranteeing returns of between 2% and 3.5% each month. The scam ran from July 2004 though at least March 2008, according to the U.S. Attorney's office.
Vaughn faces decades on prison on the five wire fraud and nine mail fraud counts.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.