Sunday, 28 December 2014
Last updated 3 days ago
Oct 12 2006 | 3:14pm ET
A Utah man has been slapped with an enforcement action over an alleged $14 million hedge fund fraud.
The Commodity Futures Trading Commission filed a civil enforcement action against William Perkins in federal court in Camden, N.J., late last month, alleging his Universe Capital Appreciation commodity pool marketed to investors with less than $100,000. On a Web site, Perkins claimed his “superfund” was returning approximately 100% per year.
In fact, he invested only part of the $43 million he collected between January 2002 and March 2004 in commodity futures. According to the CFTC, he “lost, misappropriated or dissipated” about $13.6 million.
The regulator is seeking disgorgement of ill-gotten gains, restitution and civil penalties.
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.