Wednesday, 27 August 2014
Last updated 2 hours ago
Nov 29 2011 | 9:27am ET
Victims of James Nicholson's $141 million hedge fund fraud have a little something to be thankful for in the wake of the holiday weekend.
The first restitution checks reached investors in Nicholson's Westgate Capital Management over the weekend or yesterday, the Bergen (N.J.) Record reports. The checks cut represent almost all of the $19.6 million recovered by the federal government from the Ponzi scheme, which collapsed two-and-a-half years ago.
The restituted money accounts for only about 14.5% of the money raised by Nicholson.
Nicholson's victims will likely get more money back, but not much: The U.S. Marshals Service is holding on to $25,000 as it seeks to sell a pair of properties in New Jersey owned or purchased by Nicholson. The two homes are listed for a combined total of $677,400.
Nicholson himself is serving a 40 year prison sentenced.
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 ...