Monday, 22 September 2014
Last updated 2 days 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.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.