Thursday, 2 October 2014
Last updated 1 hour 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...