Wednesday, 17 September 2014
Last updated 44 min 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.
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…
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