Monday, 22 September 2014
Last updated 6 hours ago
Jun 5 2012 | 10:22am ET
A former Galleon Group trader who wore a wire for the government has been handsomely rewarded for his cooperation.
Franz Tudor was sentenced to just three years' probation and ordered to pay $106,000 on Friday. Prosecutors credited Tudor, who pleaded guilty almost three years ago, with winning the guilty plea of former Diamondback Capital Management trader Anthony Scolaro. Tudor also taped conversations with Incremental Capital's Zvi Goffer and Michael Kimelman, both of whom were convicted at trial.
Tudor worked at Incremental after leaving Galleon and following a stint at Schottenfeld Group. He began cooperating with investigators in October 2008.
"Your cooperation is very impressive," U.S. District Judge Richard Sullivan told Tudor. "It was immediate, it was substantial and it was time-consuming."
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.