Friday, 1 August 2014
Last updated 13 hours ago
Mar 26 2014 | 10:11am ET
You can call him @hedgiefraud: Anthony Davian, a hedge-fund manager better known as @hedgieguy, has pleaded guilty to defrauding investors of $1.8 million.
Davian pleaded out to 14 charges of securities fraud, mail fraud, wire fraud and money laundering in Cleveland federal court yesterday. According to prosecutors, between 2008 and last year, when he was hit with a Securities and Exchange Commission lawsuit, the Davian Capital Advisers founder raised money from at least 20 investors, using it to finance a lavish lifestyle. The SEC called his promised returns “figments of Davian’s imagination.”
“This defendant deceived clients to line his own pockets,” U.S. Attorney Steven Dettelbach said. “We will continue to aggressively pursue cases in which investors are cheated out of their savings.”
Davis, 34, will be sentenced in July.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…