Saturday, 25 April 2015
Last updated 10 hours ago
May 18 2009 | 10:51am ET
British authorities have made the first arrests connected with the collapse of hedge fund Weavering Capital. The Serious Fraud Office arrested two men, whose identities have not been revealed, and searched a pair of houses in London’s south suburbs.
The SFO says Weavering employed swaps which it says “inflated the apparent net asset value” of the Weavering Macro Fixed Income Hedge Fund. The fund’s liquidators discovered the interest rate swap, held by a counterparty related to Weavering, in March.
The two men, aged 43 and 45, were taken to a police station for questioning. The first arrests of hedge fund managers in Britain since the credit crisis struck are not expected to be followed by any more Weavering-related arrests in the near future.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…