Tuesday, 26 May 2015
Last updated 2 hours ago
Nov 8 2007 | 12:16pm ET
Investors in a hedge fund that went under during this summer’s market turmoil are crying foul, accusing its managers of defrauding them out of as much as $100 million.
According to an arbitration claim filed last month against Sample & Cross Capital Management, investors allege that the firm said the Vega Opportunity Fund would focus on capital preservation. Instead, it managed to lose 75% in a single day, before Sample & Cross pulled the plug on Aug. 17.
Sample & Cross, based outside Chicago, was founded by UBS veterans Matthew Sample and J. David Cross.
Andrew Stoltmann, representing some of the aggrieved investors, filed the complaint with the American Arbitration Association, accusing the firm of violating Illinois antifraud provisions.
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…