Thursday, 2 October 2014
Last updated 8 min ago
Oct 31 2013 | 9:31am ET
A former trader for Bernard Madoff pointed the finger squarely at two of the arch-fraudster's lieutenants, who are on trial for aiding and abetting the $65 billion Ponzi scheme.
David Kugel, the first person to plead guilty in the Madoff scam, testified that Madoff's secretary, Annette Bongiorno, helped him commit securities fraud, and Joann Crupi, who handled the firm's daily cash balances, helped him commit both securities and mortgage fraud. Bongiorno, Crupi and their three co-defendants have all denied wrongdoing or prior knowledge of Madoff's fraud.
Kugel took the jury through his own crimes for Madoff, which he said began in 1970s, creating fake trades with historical information. He is set to return to the stand today.
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...