Sunday, 26 April 2015
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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…