Saturday, 28 March 2015
Last updated 23 hours ago
Mar 15 2013 | 12:36am ET
A former hedge fund CFO has been sentenced to almost three-and-a-half years in prison for stealing more than $1 million from his firm.
Darrin Foster pleaded guilty to embezzling the funds from Turkel Investments in October. Prosecutors said he made thousands of unauthorized charges for personal expenses on his corporate American Express card and paid the bills from the hedge fund’s bank accounts. Foster, who worked at Turkel from 1993 through 2010, ran the fraud from 2004 through 2010.
Among the things Foster had the hedge fund pay for were expensive car rentals, vacations, meals and electronics.
Foster was sentenced to 41 months in prison by U.S. District Judge Janet Bond Arterton in New Haven, Conn., followed by three years of supervised release.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…