Saturday, 20 December 2014
Last updated 15 hours ago
Feb 22 2008 | 12:59am ET
An alleged hedge fund fraudster has been arrested and charged with stealing tens of thousands of dollars from his investors.
Vernon Watts, a former Connecticut resident now living in Federal Way, Wash., allegedly stole almost $60,000 from four fellow Nutmeg Staters who invested in his Artist Kiosk hedge fund. Each of the victims lost between $10,000 and $20,000, Connecticut prosecutors say, as Watts frittered away the fund’s $85,000 in assets on bad investments and personal expenses.
Watts’ alleged scam, which ran from 2004 to 2005, was foiled when one of his investor-victims filed a complaint with the Securities and Exchange Commission.
He has been charged with larceny, securities violations and failing to register as an investment adviser. If convicted, he faces up to 58 years in prison.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.