Thursday, 30 October 2014
Last updated 1 hour ago
Jun 21 2012 | 11:01am ET
Two years after his return to the U.S. to face hedge fund fraud charges, Albert Hu stands convicted of them.
A federal jury in San Jose, Calif., yesterday found Hu guilty of seven counts of wire fraud. Hu was accused of ripping off investors in his two California hedge funds of $5 million, promising double-digit returns but actually stealing millions.
In 2008, Hu fled the U.S.—after moving the stolen assets from Singapore to Hong Kong and Taiwan. He was extradited from Hong Kong in 2009, after dropping his fight against the move.
Hu, who has been in prison since his return to the U.S., faces decades in prison when he is sentenced later this year.
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…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.