Sunday, 29 November 2015
Last updated 1 day ago
Jun 11 2013 | 10:35am ET
Hedge fund Platinum Partners has won a $70 million settlement from Ponzi schemer Scott Rothstein's primary bank.
TD Bank agreed to cover the $26 million that Platinum owes to the Rothstein bankruptcy estate. It will also pay Platinum $18 million, the hedge fund's president, Uri Landesman, said.
"What we're getting here is all of our losses, plus what we owed the RRA estate, plus all of our legal fees," he said.
"This totally vindicates Platinum, as we were victims of Rothstein's fraud," he added. We have always believed that it would be in our investors’ best interests to exhaust all of our legal options in pursuit of financial recovery. This settlement ensures that our investors will be made whole, an outstanding and just outcome for all our stakeholders."
Platinum invested in Rothstein's fraud through a feeder fund, Banyon Investments.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…