Saturday, 20 December 2014
Last updated 22 hours ago
May 19 2009 | 2:04am ET
Two Georgians accused of ripping investors off to the tune of $2 million in a hedge fund scam have pleaded not guilty to federal fraud charges.
Gary Hutcheson and Saundra McKinney Pyles have been charged with five counts each of mail fraud and money laundering. Prosecutors say the two defrauded more than four dozen investors, among them members of Macon’s elite, in Hutcheson’s Georgia Ionics Fund of $2.11 million.
According to the complaint, Hutcheson stole some two-thirds of the money collected for Georgia Ionics, beginning in May 2006. He allegedly lost most of the $780,000 he actually did invest.
Hutcheson and Pyles were arrested last month in Colorado, a week after they were charged. Both have been ordered held without bail until a detention hearing tomorrow. If convicted, Hutcheson and Pyles face more than five years in prison.
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.