Thursday, 26 March 2015
Last updated 13 min ago
Sep 24 2008 | 3:17pm ET
The U.S. Commodity Futures Trading Commission today revoked the registration of Philadelphia Alternative Asset Management, based on fraud judgments entered against the hedge fund last month. The firm was ordered to pay restitution of approximately $276 million and an $8.8 million civil monetary penalty for swindling investors out about $200 million.
Meanwhile, the CFTF simultaneously filed and settled charges against four registered commodity pool operators, charging them with failing to distribute to investors and file with the National Futures Association one or more of their respective commodity pools’ annual reports in a timely manner.
Chicago-based Mansur Capital Corporation, San Francisco-based Persistent Edge Management, and New York-based Stillwater Capital Partners were charged in the CFTC action and are on the hook for $75,000, $120,000 and $135,000, respectively.
While each of the CPOs had obtained extensions of their respective deadlines for various pools and reporting years, the CFTC alleged that each failed to timely comply with its obligations.
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…