Saturday, 30 August 2014
Last updated 18 hours ago
Nov 9 2007 | 1:41pm ET
The founder of collapsed hedge fund Philadelphia Alternative Asset Management has been charged with defrauding investors of $200 million.
The U.S. attorney in Philadelphia announced the indictment of Canadian Paul Eustace today, alleging he sent investors phony account statements showing profitable investments for four years before authorities shut the hedge fund down. In fact, the fund posted losses of some $179 million; it raised just $230 million. He is also accused of making loans to himself using investor funds, and boosting his management fee based on the non-existent profits. He was charged with two counts of commodities fraud.
PAAM, which regulators shuttered in June, had offices in Canada and King of Prussia, Pa., outside of Philadelphia.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...