Wednesday, 1 October 2014
Last updated 17 min ago
Feb 25 2009 | 11:52am ET
While accused hedge fund fraudster Arthur Nadel returns to court today in an effort to win back his freedom, two partners are trying to get their jewelry back.
Neil and Christopher Moody, who have not been charged with a crime but have been sued by a Nadel client, have asked a Florida judge to give them back $675,000 in gems and jewelry they financed to sell to a store, the Sarasota Herald-Tribune reports. The judge created a receivership to seize the jewels two weeks ago, after investor Louis Paolina sued the Moodys, alleging they lied to him about the performance of the Viking Fund, once of the hedge funds subadvised by Nadel.
According to Paolino’s suit, the Moodys used management fees earned on Nadel’s fraud to buy the jewelry.
A lawyer for the Moodys filed a motion last week to dissolve the receivership, arguing that there is no legal reason to hold the assets.
Meanwhile, in New York, Nadel will be back in court, as his attorneys and prosecutors spar over whether the Scoop Management chief, accused of ripping off investors to the tune of $300 million, should be released on bail to his Florida home.
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...