Thursday, 25 December 2014
Last updated 16 hours ago
Aug 3 2007 | 1:58pm ET
A former Banc of America Securities broker admitted to taking kickbacks in exchange for giving a hedge fund access to new securities offerings.
Paul Risoli pleaded guilty yesterday to one count apiece of conspiracy and wire fraud in Manhattan federal court. He is just one of 13 people accused of leaking information to hedge funds in March, he is to be sentenced on Nov. 9.
Prosecutors say Risoli, who left BofA in February, accepted at least $9,500 in kickbacks from Erik Franklin, an analyst at hedge fund Q Capital, from late 2005 through last October. Risoli then allocated shares of both initial public offerings and secondary offerings to Q Capital, which turned at least $160,000 in profit from the deals.
Franklin pleaded guilty to conspiracy, securities fraud and other charges in February.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.