Tuesday, 16 September 2014
Last updated 11 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 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…
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