Friday, 22 August 2014
Last updated 5 hours ago
May 7 2013 | 11:13am ET
MICG Investment Management CEO Jeffrey Martinovich has been convicted of defrauding his hedge fund's clients.
A Newport News, Va., federal jury found Martinovich guilty of 17 counts of conspiracy, mail fraud, wire fraud and unlawful monetary transactions, while clearing him on three others. He faces centuries in prison at his sentencing in August.
According to prosecutors, Martinovich ran a Ponzi scheme at MICG. He also allegedly routinely misled investors, overvaluing MICG's investments to overcharge them, and lied to them about the financial health of one of its key investments.
Martinovich will remain free on bail until his sentencing.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note