Thursday, 18 December 2014
Last updated 15 hours ago
Mar 19 2012 | 12:02pm ET
One-time CNBC contributor Brian Kim has pleaded guilty to a hedge fund fraud, among other charges.
The Liquid Capital Management founder on Friday entered pleas of grand larceny, forgery, scheme to defraud, falsifying business records and other counts, as part of a plea deal with prosecutors. Kim will be sentenced to between five and 15 years in prison; he had faced up to 45 years.
Kim had been facing three separate cases filed by Manhattan prosecutors: For running a $6 million Ponzi scheme at LCM, for stealing $430,000 from his New York condominium association and for bail-jumping, the latter stemming from his disappearance in January 2011, prior to his capture and return to the U.S. in September.
In December, Kim pleaded guilty to federal charges for fraudulently obtaining a passport. He'll be sentenced in both state and federal court next month.
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.