Saturday, 23 May 2015
Last updated 10 hours ago
Dec 2 2011 | 9:07am ET
A Chicago-area hedge fund has settled Securities and Exchange Commission charges that it lied to investors about its assets, returns and investments.
Paridon Capital Management and owner Jeffrey Neufeld, beginning in 2006, inflated the returns of their TCM Global Strategy Fund, as well as inflating their assets under management, in an effort to lure more investors into the fraud. What's more, much of the fund's money went to buying debt securities—not permissible investments for the fund, according to the SEC—which were not, in fact, debt securities at all, but a loan to Elgin, Ill.-based Paridon itself, the SEC complaint alleged.
And if that were not enough, Paridon then marked up those loans to hide other trading losses. Neufeld and Paridon, who earlier this year paid $53,000 to an "injured investor," did not admit or deny wrongdoing, although Neufeld agreed to pay a $75,000 fine.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…