Tuesday, 25 November 2014
Last updated 6 hours ago
Mar 28 2012 | 11:34am ET
More than a year after Ponzi schemer Sean Mueller was sent to prison for 40 years, the court-appointed receiver in the case is going after his brokers.
C. Randel Lewis earlier this month filed an arbitration claim against Mueller's brokers, including M.S. Howells & Co. He's seeking $26 million.
Lewis alleges that the brokers ignored warning signs that Mueller's Over-Under Fund was insolvent. It was: Mueller was running a $71 million Ponzi scheme, promising investors double-digit returns. He also told investors that he had never lost money in eight years and that he managed $122 million; none of the claims were true.
Mueller pleaded guilty in November 2010 to ripping off some 65 investors, including Hall of Fame quarterback John Elway.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...