Wednesday, 1 October 2014
Last updated 9 hours ago
Mar 13 2008 | 11:26am ET
Three hedge fund fraudsters have been fined for their involvement in a hedge fund scam dating back two years.
The Securities and Exchange Commission in April 2005 initially filed its complaint against father and son team Sheldon and Peter Krieger, and John Madey, principals of a hedge fund called KFSI Equity Fund, for allegedly funneling approximately $3.7 million of the $7.5 million the fund raised to a broker-dealer they also controlled.
The trio raised money from approximately 45 investors by claiming the KFSI Fund would generate profits by trading in securities. But the fund lost money and the trio hid the losses by issuing false account statements to investors.
The U.S. District Court for the Southern District of Florida has now ordered each of the Kriegers to pay a $110,000 civil penalty and Madey to pay a disgorgement of $223,094 and prejudgment interest in the amount of $48,224.
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...