Wednesday, 1 October 2014
Last updated 25 min ago
Dec 14 2007 | 11:11am ET
A convicted hedge fund fraudster dodged an obstruction of justice rap yesterday after a judge called the testimony of the government’s star witness “an abomination.”
Keith Gary Gilabert, who last year pleaded guilty to defrauding investors of $7 million in a phony hedge fund, and his mother-in-law had been charged with asking a Los Angeles real estate broker to lie to the Federal Bureau of Investigation. But U.S. District Judge Stephen Wilson acquitted the pair, calling the testimony of the broker, Bradley Gerszt, “maybe the worse I’ve ever seen.” Gerszt had admitted to lying to the FBI.
Prosecutors alleged that Gilabert and Hiromi Seele asked Gerszt to lie about the sale of two plots of land in Valencia, Calif. The proceeds of those sales were supposed to go to the FBI as part of Gilabert’s settlement with the government.
Gilabert had faced as much as 10 years in prison on the obstruction charge, but his acquittal doesn’t mean he’ll be breathing free anytime soon: He remains in prison following his guilty plea to the fraud charges.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...