Sunday, 24 May 2015
Last updated 2 days ago
Jun 8 2012 | 12:20pm ET
Two Denver hedge fund managers and their tipster have settled insider-trading charges with the Securities and Exchange Commission.
Drew Brownstein, Drew Peterson and H. Clayton Peterson agreed to pay $4.7 million, the SEC said. Much of that total has already been covered by forfeitures in the criminal cases against the trio, but Brownstein and his Big 5 Asset Management hedge fund were levied a further $2 million.
Brownstein is currently serving a year in prison for trading on a tip from H. Clayton Peterson through Drew Peterson. The elder Peterson served on the Mariner Energy board of directors, and told his son that the company was about to be acquired by Apache Corp. Brownstein earned $2.5 million for Big 5 and members of his family on the tip. The Petersons received house arrest and probation for their participation in the scheme.
Brownstein now owes the SEC $130,671, in addition to the roughly $2.4 million in disgorgement still owed by Big 5.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…