Tuesday, 30 September 2014
Last updated 5 hours ago
Feb 25 2009 | 12:22pm ET
A federal judge today said accused hedge fund fraudster Arthur Nadel can be freed on $5 million bond. But Nadel, who is accused of defrauding investors of more than $300 million, is unlikely to post bail, his lawyer said.
U.S. District Judge Denise Cote included home detention in the bail terms at the hearing in Manhattan. She said there are tens of millions of dollars still missing from the six hedge funds managed by Nadel, who ran Sarasota, Fla.-based Scoop Management.
“I don’t think he has a million dollars,” Todd Foster, Nadel’s attorney, said after the hearing, according to Reuters. “We can come back and ask for an adjustment when the money issues are settled and the accounting is performed.”
Until then, Nadel will remain incarcerated in New York, where he faces securities and wire fraud charges. Nadel has also been sued by the Securities and Exchange Commission.
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...