Thursday, 25 December 2014
Last updated 17 hours ago
Jul 21 2008 | 9:11am ET
Cayman Islands authorities have arrested a man in connection with the collapse of several hedge funds last month.
The unidentified 47-year-old has been taken into custody on suspicion of theft, false accounting and issuing false documents. It is thought that investors lost some US$70 million in the Grand Island hedge funds, although police say they do not know exactly how much was lost. It is also unclear how many investors are affected.
In June, the four funds—three registered with the Cayman Islands Monetary Authority and one unregulated offering—were put into voluntary liquidation by their shareholders. PricewaterhouseCoopers has been appointed the funds’ receiver.
The Grand Island funds primarily traded oil. Close Brothers served as the fund’s administrator, and a prominent Cayman businessman, Naul Bodden, served as a director for at least one of the funds, according to Cayman NetNews.
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.