Diamondback Settles SEC Lawsuit

Sep 1 2011 | 12:01pm ET

Diamondback Capital Partners and a former hedge fund manager at the firm have settled Securities and Exchange Commission charges stemming from insider-trading allegations against the latter.

Greenwich, Conn.-based Diamondback, which says it was never accused of any wrongdoing, agreed to pay $1 million in illegal profits it earned on Anthony Scolaro's trades. Scolaro pleaded guilty last year to participating in the Galleon Group insider-trading ring; that guilty plea led to Diamondback's offices being raided by the Federal Bureau of Investigation in November.

That raid, in turn, has contributed to more than $1 billion in redemption requests.

Scolaro settled the civil charges against him for $203,400.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of