Thursday, 18 September 2014
Last updated 11 hours ago
Sep 25 2012 | 1:53am ET
For the second time, a hedge fund manager charged with aiding the Thomas Petters Ponzi scheme has pleaded not guilty.
Arrowhead Capital Management founder James Fry entered his plea to new charged brought in July. Fry and Frank Vennes, Petters' chief fundraiser who also pleaded not guilty to the new charges earlier this month, face 31 counts of wire fraud, bank fraud, securities fraud, money laundering and making false statements.
Fry was first charged last July. According to prosecutors, he lied to investors about Petters' default on notes owned by Arrowhead and failed to tell clients about Vennes' criminal past. Arrowhead's chief financial officer pleaded guilty to playing a role in Petters' $3.65 billion fraud in April of last year.
Fry and Vennes are set to go on trial in February.
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.