Monday, 25 May 2015
Last updated 2 days ago
Feb 6 2014 | 12:19pm ET
Canadian regulators have brought charges against Quadrexx Asset Management and its "directing minds," Miklos Nagy and Tony Sanfelice.
According to the Ontario Securities Commission, Nagy, Sanfelice and their bankruptcy hedge fund defrauded investors, failing to deal with them fairly or to disclose how they were valuing an investment.
Quadrexx also allegedly made Ponzi scheme-type payments to investors and collected unjustified fees, without which, the OSC claims, its working capital "would have been below zero by Oct. 31, 2012."
Quadrexx ceased trading in the summer of 2012 after a compliance review and filed for bankruptcy last year.
OSC said it would hold a hearing to consider its allegations on Feb. 20.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…