Friday, 27 March 2015
Last updated 3 hours 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…