Wednesday, 27 August 2014
Last updated 8 hours ago
Feb 22 2012 | 3:30am ET
A top hedge fund executive who pleaded guilty to aiding Thomas Petters' $3.65 billion Ponzi scheme has been barred from the securities industry.
The Securities and Exchange Commission said that Michelle Palm consented to its order with admitting or denying guilt. But the former Arrowhead Capital Management finance director has already done the former, pleading guilty in April to securities fraud and lying to a federal agent. She is cooperating with the investigation, and may testify against Arrowhead founder James Fry.
According to the SEC's lawsuit, filed in November, Palm and Fry helped Petters hide his scam by arranging secret note extensions and by lying to Arrowhead investors about the source of payments that were supposed to come from electronics retailers. Arrowhead allegedly earned some $42 million in fees funneling about $600 million to Petters, who was convicted two years ago and sentenced to 50 years in prison.
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 ...