Wednesday, 27 August 2014
Last updated 2 hours ago
Nov 29 2011 | 9:21am ET
Actor Tobey Maguire has agreed to surrender a substantial chunk of his winnings from high-stakes poker games run by a hedge fund fraudster.
Maguire settled the lawsuit filed by the receiver in the Bradley Ruderman case for $80,000, less than the $311,000 originally sought. In the suit, trustee Howard Ehrenberg said that Maguire won the money in games organized by Ruderman in 2007 and 2008.
Maguire had originally responded that he did nothing wrong and shouldn't have to return money fairly won from a man who turned out to be a Ponzi schemer. He also noted that he lost almost $170,000 in the games, against his $311,000 in winnings.
Ruderman is serving more than 10 years in prison for defrauding investors of $38 million.
Maguire wasn't the only celebrity caught up in Ruderman's games. Ehrenberg also sued 21 other people, including 1970s television star Gabe Kaplan and private equity honcho Alec Gores.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...