Tuesday, 30 September 2014
Last updated 3 hours ago
Feb 15 2012 | 12:55pm ET
A Westchester County, N.Y., man accused of defrauding an oil heir of $20 million claims that the millionaire is seeking revenge for a hedge fund deal gone wrong.
According to Vickram Bedi and his lawyer, Roger Davidson, through a private investigator, began to threaten Bedi after Davidson lost $12.4 million on the hedge fund. What's more, Bedi's lawyers say, Davidson is bribing witnesses, including Bedi's ex-girlfriend, who has pleaded guilty in the case.
Prosecutors paint a somewhat different story, saying that Bedi and his ex, Helga Ingvarsdottir, spent six years convincing Davidson that his computer had been hacked from a remote village in Honduras, and that they could protect him. Davidson signed a security contract with the two worth $10.9 million—$160,000 per month.
But Bedi says that Davidson is mentally ill and paid him to participate in a role-playing game that Davidson used to deal with his anxiety. Bedi said he tried to stop, but was convinced by a lucrative offer to continue—although he made Davidson sign documents explaining that Bedi was authorized to lie to him.
"It was to protect Mr. Bedi from exactly what occurred in this case," Bedi's motion papers allege. "Roger Davidson knew that all discussions can be considered to be fictitious and understood this prior to signing the contract."
If convicted, Bedi faces up to 25 years in prison.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...