Tuesday, 2 September 2014
Last updated 10 hours ago
Jan 20 2012 | 12:38pm ET
A federal investigation into a pair of Portland, Ore., hedge funds continued to grow last week with a new round of investor interviews and a new subpoena.
The Securities and Exchange Commission spoke with Sasquatch Capital clients, as it had done with clients of Grifphon Asset Management last year. The agency also issued a subpoena to lawyer Robert Banks, who represents some Grifphon clients, seeking internal documents from the hedge fund.
Grifphon and Sasquatch are under investigation by both the SEC and Oregon authorities for possible fraud. Investors had accused Grifphon chief Yusaf Jawed and Sasquatch's Lyman Bruhn of running a Ponzi scheme, and have filed lawsuits to that end.
Jawed has repeatedly said that he is nearing a solution to his hedge fund's liquidity problems. On Wednesday, he sent investors a letter assuring them that "we continue to work assiduously to bring about liquidity, and expect to accomplish this task in the relatively near future." But he also said that his former lawyer would no longer take inquiries from clients.
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…
The twin debacles of MF Global and PFG have damaged the reputation of the futures industry demanding an examination of customer protection rules. New rules are being implemented, which will add cost a...