Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.
Saturday, 3 December 2016
Last updated 7 hours ago
Aug 27 2008 | 12:23pm ET
A San Francisco-based hedge fund manager who faced five days in the clink for illegally trimming trees at a state park adjacent to his vacation home has instead been sentenced to community service.
Last week, a jury found Derek Webb guilty of vandalism, and yesterday the judge ordered Webb to perform 50 hours of community service , according to The Press Democrat. However, the newspaper incorrectly reported that he was sentenced to jail for five days, which he was not.
The tree trimming incident occurred last October. A state parks official caught Webb, chainsaw in hand, hacking away at branches on the south side of Van Damme State Park. Webb owns a vacation home right next door to the park. At the time, Webb said he was trying to help maintain a heavily used trail.
Webb, who in addition to managing money, is also a benefactor for various environmental groups.
Prosecutors said that the ruling sends a message that a "person's deeds as a public benefactor does not exempt him from the rule of law."
However, Webb's attorney, Rod Jones, was surprised by the stiff sentence for a misdemeanor. Jones reportedly asked, "Were they in the same courtroom?"
Webb runs quantitative hedge fund shop Web Capital Management. He is very involved in supporting charities and community causes.