Friday, 28 November 2014
Last updated 1 day ago
Aug 11 2014 | 6:18am ET
Brian Jorgenson hoped that the more than $400,000 he and a friend earned illegally trading Microsoft Corp. shares would pave the way to hedge-fund success. Instead, he’ll pay for the profits with two years of his life.
Jorgenson and a friend used information he received as an employee of Microsoft’s treasury department to make the trades, which they hoped would be part of an investment track-record that would allow them to launch their own hedge fund. The scam ran from early 2012 through the end of last year, when Jorgenson and his friend, Sean Stokke, were arrested. Jorgenson pleaded guilty earlier this year.
On Friday, U.S. District Judge Marsha Pechman in Seattle sentenced Jorgenson to two years in prison, saying it was “important that you serve as a public example.” Stokke, whom Jorgenson admitted to enticing into the scheme, received one-and-a-half years two weeks ago. Both men had faced up to 20 years in prison.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...