Friday, 29 August 2014
Last updated 7 hours ago
Jul 27 2011 | 11:51am ET
Citigroup yesterday rejected the court-appointed trustee in the Bernard Madoff case's allegations against it and asked a federal bankruptcy court to toss his lawsuit against the bank.
Irving Picard's $430 million suit against Citi "relies on the combination of widely known but innocuous information about" Bernard L. Madoff Investment Securities, "along with obscure economic discrepancies developed by the trustee and his experts over the past two years."
Picard has accused Citi of concluding more than a year-and-a-half before Madoff's arrest that a Madoff feeder fund, Fairfield Sentry, was posting returns that could not have been made by Madoff's strategy. Citi, in its filing yesterday, said that Picard cannot show that or that Citi had any fraudulent purposes in its actions.
A Citi hedge fund servicing unit has been separately sued by Picard.
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 ...