Friday, 19 December 2014
Last updated 6 min ago
Nov 3 2011 | 8:19am ET
Almost three years after James Nicholson's Ponzi scheme collapsed, his victims are finally on the verge of getting some of their money back.
The federal judge who sentenced Nicholson to 40 years in prison last year has signed an order directing the court clerk to begin cutting checks to those who lost money in the $141 million hedge fund fraud. A pair of government efforts to recover money found $19.6 million, which will be distributed to clients of Nicholson's Westgate Capital Management who did not withdraw more from the scam than they put in.
U.S. District Judge Richard Sullivan issued the order to pay victims on Tuesday. It is unclear precisely when the first checks will go out.
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.