Monday, 29 December 2014
Last updated 1 hour 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.
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.