Friday, 27 March 2015
Last updated 1 hour ago
Feb 21 2008 | 7:32am ET
For the second time in as many weeks, a former executive of collapsed futures broker Refco has pleaded guilty to fraud.
Robert Trosten, who served as CFO until 2004, a year before the firm collapsed, admitted he helped hide hundreds of millions in losses from banks, auditors and investors. One of the latter, Boston private equity giant Thomas H. Lee Partners, paid $507 million for a 57% stake in Refco, which also provided clearing and prime brokerage services, in 2004.
Refco hid the losses in a company controlled by former CEO Phillip Bennett, who is facing life in prison after pleading guilty on Friday. Santo Maggio, who headed the firm’s offshore unit, pleaded guilty in December. Refco’s former president, Tone Grant, and a former outside lawyer to the futures broker, Joseph Collins, still face trial.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…