Sep 14 2006 | 12:00am ET
A phony hedge fund manager in Kansas has been sentenced to 18 months in prison for defrauding investors out of $1.7 million.
Scott Brian Kaye was convicted of swindling 17 investors in his TrueHedge Capital Partners, allegedly using a half-million of their dollars to build himself a swanky house in Wichita and losing most of the rest on speculative investments.
When he gets out of jail, the sentencing judge recommended he pay restitution as part of his two-year supervised release period.
No word on what he’ll do to make a dent in that debt.
Mar 17 2014 | 9:30am ET
“Transparency” has become a touchstone for investors in the post-Madoff world but, according to Carl Lingenfelter, chief administration officer at Northern Trust Hedge Fund Services, it's a concept that has evolved over the past five years from fraud protection to risk management to investment performance. Read more…
Mar 10 2014 | 11:33am ET
A huge thank you to all of the people who helped make last Thursday’s HFC NY Open Your Heart to the Children Benefit such a success. The charity gala raised nearly $2 million to prevent and treat child abuse in New York, New Jersey and Connecticut. Read more…