Wednesday, 20 August 2014
Last updated 50 min ago
Aug 9 2013 | 10:29am ET
A British hedge fund manager who escaped from prison just six months into a four-and-a-half year sentence could be sent to the U.S. to face justice.
Marc Duchesne pleaded guilty in 2009 to defrauding investors in his Benchmark Asset Management out of £15 million. Promising high returns and the safety of their investments, Duchesne was actually spending their money on a lavish lifestyle, featuring a fleet of luxury cars and tens of thousands of dollars on cigars and cosmetic dentistry.
Duchesne was sent to prison, but escaped from the open facility after just six months. He was arrested last year in Switzerland and returned to the U.K., where he now faces extradition to the U.S.
Duchesne's extradition hearing is scheduled for Sept. 5. His lawyer argued that Duchesne should not be sent to the U.S. as non-extradition to a third country was part of the agreement with the Swiss that sent him to London, and that "it would be disproportionate to subject him to another prosecution."
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