Thursday, 23 October 2014
Last updated 3 hours ago
May 7 2012 | 2:47pm ET
Colorado regulators have accused three men of soliciting investments for a $17.6 million hedge fund Ponzi scheme on the other side of the country.
According to the state's banking and securities commissioner, Michael McNamara, Jon Peterson and John Staiano raised about $5.4 million for the Pennsylvania-based Life's Good Family of Funds. The only problem, according to the commissioner, Fred Joseph, is that Life's Good founder Robert Stinson, was a "securities fraud recidivist." He's now serving 33 years in prison for the Life's Good scam.
According to Joseph, the three men raised money for Life's Good from 2007 until its collapse in 2010.
Joseph's lawsuit names the three Denver men and their companies, Brentwood Equity Advisors, Sierra Capital Resources and Jomac. All three firms are also based in Denver.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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