Saturday, 20 December 2014
Last updated 1 day ago
Jun 19 2008 | 2:00am ET
The American behind a US$46.5 million hedge fund fraud will be spending some more time in a Chinese jail.
Charles Schmitt’s sentence was extended by 26 months, the South China Morning Post reports, after the Hong Kong Court of Appeal ruled his original four-and-a-half year sentence was “manifestly inadequate.”
The 63-year-old pleaded guilty to 19 counts of false accounting in 2006. His CSA Absolute Return fund collapsed in 2004, with Schmitt admitting that he illegally diverted US$195 million of investor funds into dummy companies he controlled.
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.