Tuesday, 21 October 2014
Last updated 1 hour ago
Aug 23 2013 | 5:44am ET
If some of the five former Bernard Madoff employees set to face trial on fraud charges in October were involved in a love triangle, they’d like to know about it.
In a revised indictment last week, prosecutors alleged that “one of the defendants was involved in a love triangle with Bernard Madoff himself” and that others were involved “in romantic and/or sexual relationships” with one another. This may be news to the five of them, who have now asked for more details on the allegations.
“We still have no information regarding the timing and duration of the relationships or the source of the information, and these facts are critical to the defendants’ decision whether or not to cross-examine the government’s witnesses concerning the allegations,” their lawyers wrote in a filing yesterday.
“While the government identified certain relationships, there is still another relationship not embraced by the government’s motion and about which it presumably wishes to introduce as evidence at trial.”
That trial will determine whether former Madoff operations director Daniel Bonventre, Madoff secretary Annette Bongiorno, Joann Crupi, who handled the firm’s daily cash balances, and computer programmers Jerome O’Hara and George Perez are criminally liable for assisting in Madoff’s $65 billion Ponzi scheme.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...