Thursday, 26 November 2015
Last updated 22 hours ago
Apr 17 2012 | 12:32pm ET
A hedge fund insider-trader has been sentenced to one year in prison for trading on tips from his brother-in-law and a college buddy.
James Turner was also fined $25,000 and sentenced to three years of supervised release following his prison term. The former Clay Capital Management chief investment officer pleaded guilty in December to earning more than $2.5 million in illegal profits, and had faced as much as 20 years in prison.
According to prosecutors, Turner began getting insider tips from Scott Vollmar and Scott Robarge in 2006, covering three different companies. Both Vollmar and Robarge have pleaded guilty as well and await sentencing next month.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…