Saturday, 28 November 2015
Last updated 5 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…