Tuesday, 2 September 2014
Last updated 3 days ago
Mar 25 2014 | 10:19am ET
The former CEO of cash-management firm Sentinel Management Group should be convicted of defrauding hedge fund clients, a prosecutor insisted at the closing of Eric Bloom’s trial yesterday.
Bloom is accused of ripping off at least 70 investors, including commodity pools and hedge funds, of more than $500 million at Sentinel, which managed short-term cash portfolios. The firm collapsed in 2007, telling investors that it had to freeze its assets due to market turbulence. In fact, prosecutor Patrick Otlewski said, it actually put client assets up as collateral to lever its own trading account.
“Sentinel was a fraud,” Otlewski said.
Bloom’s lawyer, Terence Campbell, told the Chicago federal jury that their client acted in good faith, and that prosecutors failed to prove their case beyond a reasonable doubt.
If convicted, Bloom faces hundreds of years in prison.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...