Sunday, 21 September 2014
Last updated 1 day ago
Jul 24 2013 | 9:26am ET
Having admitted to brazenly ripping off her boss to the tune of almost $1 million, hedge fund manager Todd Meister's former assistant has struck upon a rather brazen way to pay him back: with your money.
Renata Shamrakova, who pleaded guilty to stealing $821,000 from the Pride Rock Management co-founder, needs to pony up half that amount in December to stay out of jail. The trouble is, Shamrakova's parents have had no luck selling a piece of property in upstate New York, the proceeds of which were to cover the restitution. So Shamrakova is seeking to crowdsource the funding, via a GoFundMe.com page, "Restitution for Renata."
Shamrakova, who made a brief court appearance yesterday, told the New York Daily News that she doesn't "expect people to feel bad for me; I'm just using the resources that are available to me." Despite that disclaimer, the GoFundMe page urges would-be donors to see that Shamrakova deserves "a second chance to restart my life while there is still an opportunity to do so."
"I am 28 years old and a prison sentence would ruin my life both on a real level, as a health risk due to a fainting condition, and on an emotional level," she wrote. She also all but asked for a job, citing her "entrepreneurial spirit and the right eye to make my own skills come to life" and seeking "someone who does real estate development in the Catskills or a mentor."
It's unclear if the latter plea has produced results, but in spite of 98 shares on Facebook, Shamrakova's request for financial assistance have produced only $175 in pledges.
Should her luck turn around, and leave her with a profit after repaying Meister, Shamrakova told the News she'd invest the money in a company that employs women in Africa. If not, she'll got to prison for at least one year.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.