Wednesday, 1 October 2014
Last updated 41 min ago
Oct 22 2013 | 10:36am ET
Corporate credit-card statements took center-stage yesterday at the trial of five former Bernard Madoff employees.
Prosecutor John Zach showed jurors three years worth of statements from Joann Crupi's corporate card, showing lavish vacations and thousands of dollars spent on wine. Crupi handled the Madoff firm's daily cash balances.
"Did you observe Ms. Crupi passing out almost $2,000 of wine for a Thanksgiving celebration?" Zach asked Charlene White, a former date-entry employee who joined the Madoff firm in 1993. But U.S. District Judge Laura Taylor Swain barred Zach from asking whether the purchases were legitimate business expenses, after White said work matters could not explain the cruises or trips to Las Vegas.
The credit-card statements covered the years 2004 through 2006.
Annette Bongiorno, Daniel Bonventre, Crupi, Jerome O'Hara and George Perez are accused of aiding and abetting Madoff's fraud, which unraveled in late 2008. All five—the first of the 15 people accused in the case to stand trial—deny knowing that their boss was running a scam.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...