Monday, 22 December 2014
Last updated 17 hours ago
Dec 22 2011 | 2:22am ET
A Utah hedge fund manager has admitted to defrauding investors of more than $30 million.
Thomas Repke pleaded guilty to conspiracy two weeks before his trial was to begin in Atlanta federal court. Repke and his co-conspirator, James Jeffery, were charged last December; Jeffery pleaded guilty in April.
Repke’s and Jeffery’s Coadum Capital ripped off more than 100 investors, prosecutors said. The two allegedly promised 5% month return, but actually stole more than $20 million of the money raised, transferring it to accounts in Switzerland and Malta, rather than investing it in hedge funds allegedly run by a Malta-based trader. According to prosecutors, only a fraction of the almost $40 million raised by Coadum was left by the end of 2007.
Coadum also made Ponzi scheme payments, prosecutors say.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.