Wednesday, 25 November 2015
Last updated 4 hours ago
Dec 20 2013 | 11:34am ET
A former Microsoft Corp. portfolio manager's hedge-fund dreams ended in handcuffs yesterday.
Brian Jorgenson and his friend and business partner, Sean Stokke, were hit with insider-trading charges. The two allegedly used confidential information about Microsoft to build an investment track-record that would allow them to launch their own hedge fund.
According to the Securities and Exchange Commission, which sued the two men yesterday, Jorgenson and Stokke earned $393,125 in profits since beginning the scam last year, first using Jorgenson's access to trade ahead of Microsoft's investment in Barnes & Nobles' Nook e-reader in May 2012.
Jorgenson is cooperating with the investigation, his lawyer told The Wall Street Journal. He is "incredibly remorseful for what happened," Angelo Calfo said.
For its part, Microsoft said it had "helped the government with its investigation and terminated the employee."
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…