Thursday, 2 April 2015
Last updated 10 hours ago
Oct 2 2009 | 2:31am ET
An accused California hedge fund fraudster can be freed on bail, a judge has ruled. Matthew La Madrid, accused of running a $30 million Ponzi scheme, can be released on $300,000 bail, despite the protests of prosecutors.
La Madrid’s Plus Money allegedly ripped approximately 300 investors off, promising to invest their money in a covered-call options-trading strategy. But three years after starting the hedge fund, La Madrid abandoned the strategy and illicitly dispersed the fund’s money, authorities say.
La Madrid faces more than 400 years in prison on the charges, ample reason for him to flee if freed, prosecutors said. But Judge William Hayes upheld the bail set earlier by a magistrate judge. La Madrid’s lawyers pointed to the fact that their client did not flee despite being under investigation for more than a year.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…