Friday, 19 September 2014
Last updated 13 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.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.