Wednesday, 17 December 2014
Last updated 10 hours ago
Mar 9 2009 | 1:47am ET
A federal judge has issued a preliminary injunction against an Oklahoma hedge fund manager accused of running a Ponzi scheme.
Mark Trimble, who ran Phidippides Capital Management, consented to the injunction. He is cooperating with the Commodities Futures Trading Commission, which brought the fraud charges against him next month, his lawyer said. Trimble has not admitted to the allegations.
“There is good cause to believe further that pool participants and prospective pool participants may have been cheated and defrauded and that immediate and irreparable damage to the court’s ability to grant effective final relief for pool participants in the form of monetary redress will occur from the dissipation of pool participants’ assets and destruction of records unless the defendants are immediately restrained and enjoined by order of this court and, accordingly, there is good cause to issue this order,” U.S. District Judge Timothy DeGiusti in Oklahoma City wrote.
The CFTC has accused Trimble and Phidippides of running a Ponzi scheme that took in $34 million from about 60 investors.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.