Wednesday, 24 September 2014
Last updated 14 hours ago
Mar 27 2008 | 2:00am ET
A New York woman arrested this week for allegedly running a prostitution ring reportedly worked in the hedge fund industry.
According to Kristen Davis’ lawyer, his client has worked in the hedge fund industry, although where or in what capacity are unclear.
Davis was arrested at her New York apartment on Tuesday, where police seized $19,000 in cash, and was charged with money laundering and promoting prostitution. Authorities have also frozen some $500,000 in bank accounts linked to her.
Police said they are looking to arrest some 15 prostitutes who worked for the 32-year-old hedgie.
According to police, Davis ran four Web sites. Her allegedly illicit entertainers reportedly charged as much as $1,200 an hour, and sold their wares at two locations on Manhattan’s East Side.
A resident at one of those buildings told The New York Times that she had observed a large number of men in suits with pretty women in their 20s heading for the building’s sixth floor around lunchtime.
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 McKitich, CIO of Petty 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…
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.