Wednesday, 24 September 2014
Last updated 13 hours ago
Feb 18 2009 | 1:03am ET
The Securities and Exchange Commission has charged a Texas financier and fund of hedge funds manager with defrauding investors of $8 billion.
The SEC yesterday raided the offices of R. Allen Stanford’s business and froze the assets of three of his companies. He is accused of promising big returns in investments he said were certificates of deposit, lying about their historical performance and safety.
Stanford’s whereabouts are unknown. In addition to his Houston base, he is an Antiguan knight and has a home in the U.S. Virgin Islands.
The SEC’s civil complaint, filed in Dallas federal court, also names James Davis, chief financial officer of Stanford Intenational Bank, and Laura Pendergest-Holt, chief investment officer of Stanford Financial Group.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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.