Tuesday, 22 July 2014
Last updated 1 hour ago
Jul 11 2013 | 11:46am ET
A New York hedge fund manager has pleaded guilty to running a $2.9 million Ponzi scheme.
Jason Konior faces up to 20 years in prison on the wire fraud count. He is to be sentenced Nov. 8 in Manhattan federal court.
Konior was charged with ripping off investors to pay his own expenses and to cover redemption requests from earlier investors. He also allegedly lied to clients of his Absolute Fund Advisors and Absolute Fund Management, promising to match their investments nine times over.
Konior, who was arrested in February, still faces a Securities and Exchange Commission lawsuit, filed last year.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…