Thursday, 18 December 2014
Last updated 14 hours ago
Jul 28 2009 | 9:23am ET
A Beverly Hills hedge fund manager has settled charges of fraud with the Securities and Exchange Commission.
Bradley Ruderman of Ruderman Capital Management, an unregistered investment adviser, was arrested in May and charged with wire fraud. Ruderman alleged raised some $38 million from investors through his two hedge funds and defrauded his investors by lying to them about the hedge funds’ investment returns and the assets under management.
He told investors that hedge funds that he controlled had earned positive returns between 15% and 60% per year and had over $800 million in assets, the SEC charged. In reality, the hedge funds lost money and had less than $650,000 in assets. The SEC’s complaint further alleges that in 2009, Ruderman made at least one Ponzi scheme-like payment, using new investor money to pay returns to an earlier investor, and that Ruderman lied to prospective investors telling them that Lowell Milken and Oracle Corp. CEO Larry Ellison were investors in his hedge funds.
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.