Sunday, 21 September 2014
Last updated 1 day ago
Jan 25 2008 | 1:00am ET
A Virginia commodity pool operator charged with defrauding his investors has settled with the Commodity Futures Trading Commission.
Robert Lee Roane will pay $739,000 to dispose of allegations that he lied to investors and misappropriated funds. The CFTC has also banned him from trading and barred him from applying for registration with the regulator.
According to the CFTC, Roane raised nearly $800,000 from investors in 2005 and 2006, lying about past success—actually non-existent—in trading, promising a foolproof system. He wound up losing most of his clients’ money, and misappropriating much of the rest, spending $137,900 on personal expenses and another $28,600 to repay other participants.
To top it all off, the CFTC said, he was unregistered when running the commodity pool.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.