Friday, 19 September 2014
Last updated 1 hour 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.