Wednesday, 17 September 2014
Last updated 3 hours ago
Dec 20 2011 | 1:27pm ET
Hedge fund manager James Turner has pleaded guilty to running an insider-trading scheme.
The former Clay Capital Management chief investment officer admitted he made more than $2.5 million trading shares of three companies in Newark, N.J., federal court yesterday. Turner received confidential tips about the companies from his brother-in-law and college friend, who worked at two of the companies.
Turner faces up to 20 years in prison when he is sentenced on April 16.
"Today's guilty plea closes the door on an insider-trading scam in which three people used their access to privileged information to manipulate trades and ensure their own success at the expense of other stockholders," Paul Fishman, U.S. Attorney for New Jersey, said.
Turner's co-conspirators, Scott Vollmar and Scott Robarge, have already pleaded guilty.
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…
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