Thursday, 28 August 2014
Last updated 3 sec ago
Dec 10 2012 | 5:37am ET
The Securities and Exchange Commission has expanded its lawsuit over a pair of Pacific Northwest hedge funds.
The regulator added three people to its complaint against Grifphon Asset Management and founder Yusaf Jawed. Benjamin Daniels, Dominic O'Dierno and Stephen Persad jointly took home almost $800,000 in commissions for pushing investors towards Grifphon, which the SEC said was a Ponzi scheme.
The three men agreed to settle the allegations. None were accused of having knowledge of Jawed's alleged scheme, which investigations say cost clients $37 million.
Jawed and a former business partner, Lyman Bruhn, are currently under criminal investigation for their alleged misdeeds. Bruhn is also accused by the SEC of running a Ponzi scheme at his hedge funds, Sasquatch Asset Management and Pearl Asset Management.
In September, the SEC sued both men and their lawyers. They also face a large number of lawsuits filed by investors.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...