Tuesday, 2 September 2014
Last updated 55 min ago
Feb 8 2012 | 12:58pm ET
A fake Atlanta hedge fund manager was sentenced to more than eight years in prison for ripping off investors to the tune of $8.8 million.
Charles Vaughn ran a $10 million Ponzi scheme, raising some $10 million from at least 25 investors for his CM Vaughn "hedge fund." Vaughn promised monthly returns of 2% to 3.5% in the scam, which ran from July 2004 through March 2008. In addition to the Ponzi-style payments, Vaughn skimmed investor capital for to pay his own personal expenses.
Vaughn also sent out phony account statements and promised that investors' capital would be insured as to prevent them from falling below a given backstop.
Vaughn, who pleaded guilty to fraud in October, was sentenced to eight years and four months in prison and three years' supervised release. He was also ordered to pay $8.8 million in restitution.
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 ...