Saturday, 30 August 2014
Last updated 18 hours ago
Dec 12 2011 | 12:21pm ET
Prosecutors have offered accused hedge fund fraudster Brian Kim a deal: Agree to spend between six and 18 years in prison, and we won't try to send you away for 45.
Kim, who was arrested in October in Hong Kong almost a year after skipping bail, is mulling the offer, Bloomberg News reports. Kim, who is being held without bail, is expected to plead guilty this week to federal charges that he fraudulently obtained the passport with which he fled—his original passport having been surrendered after his first arrest—and will return to state court on Jan. 13.
The plea deal offered by prosecutors would resolve all three cases pending against Kim in state court, for ripping investors in his Liquid Capital Management off to the tune of $6 million, for stealing $430,000 from his Manhattan condominium association and for bail-jumping. He pleaded not guilty to those charges last month.
According to prosecutors, Kim, a former CNBC analyst, promised investors that he would put their money in “safe, stable and consistently profitable securities” but instead lost millions on futures contracts—and stole some of the rest.
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 ...