Sunday, 29 March 2015
Last updated 1 day ago
May 22 2014 | 11:00am ET
Alberto Micalizzi has been fined and barred for allegedly defrauding investors in his Dynamic Decisions Capital Management hedge fund. Now, he’s been arrested for it.
Micalizzi was taken in on a 168-page arrest warrant issued by prosecutors in Milan, Italy. The Italian authorities also plan to arrest 14 of his associates.
Prosecutors said that the former university lecturer led two criminal rings that forged financial documents. The scam allegedly cost victims tens of millions of euros.
Micalizzi was fined and barred by British regulators for allegedly lying to investors about huge losses at Dynamic Decisions, which managed US$550 million. Almost all of those assets were invested in highly illiquid bonds issued by a company based in a trailer park outside of Phoenix and backed by a global network of shell companies, a Reuters investigation found. The Phoenix company was allegedly led by a fugitive and the head of one of the charities backing the bonds was shown to by a Russian fraudster.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…