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FRAUD sign with magnifying glass

Jeffrey Shalhoub and Jeff Shalhoub Investments to pay more than USD700,000 over commodity futures Ponzi scheme

Fri, 04/03/2011 - 06:00

The US Commodity Futures Trading Commission (CFTC) has obtained more than USD700,000 in restitution and civil monetary penalties in a federal court order against Jeffrey Shalhoub of Staten Island, NY, and his company, Jeff Shalhoub Investments (JSI) of Long Island City, NY, in connection with the fraudulent operation of a commodity futures Ponzi scheme. »

The word fraud with magnifying glass

CFTC charges Stuckey over USD2.8m forex fraud

Thu, 24/02/2011 - 17:00

The US Commodity Futures Trading Commission (CFTC) has filed an anti-fraud civil lawsuit charging defendants Randall Lynn Stuckey of St Peters, M., and his Missouri-based business entities, Stuckey Group, LP, Stuckey Group II, LP and Oakwood Development Company LP, with operating an illegal off-exchange foreign currency (forex) scheme that defrauded more than 65 customers out of at least USD2.8 million. »

dollars frozen in ice

Federal Court freezes assets of Texas man Larry Benny Groover over forex Ponzi scheme

Sun, 20/02/2011 - 14:00

The US Commodity Futures Trading Commission (CFTC) has obtained a federal court order freezing the assets of defendant Larry Benny Groover of Gunter, Texas, charged with operating a USD1.4 million foreign currency (forex) Ponzi scheme and misappropriating customer funds for his personal use. Groover has never been registered with the CFTC. »

fraud sign with magnifying glass

CFTC freezes assets over USD35m forex Ponzi scheme

Thu, 17/02/2011 - 12:00

The Commodity Futures Trading Commission (CFTC) has obtained a federal court order freezing the assets held by defendants Keith F Simmons of West Jefferson, NC, Bryan Coats of Clayton, NC, Jonathan Davey of Newark, Ohio, and numerous corporate entities controlled by them. »

dollars frozen in a block of ice

New York Federal Court freezes assets of Brian Kim and Liquid Capital Management

Wed, 16/02/2011 - 14:00

The US Commodity Futures Trading Commission (CFTC) has obtained a federal court order freezing assets held by defendants Brian Kim and Liquid Capital Management, LLC (Liquid Capital), both of New York, NY.  »

The word FRAUD with magnifying glass

CFTC orders Northstar and founder to pay more than USD11m to settle anti-fraud action

Sun, 06/02/2011 - 13:12

The US Commodity Futures Trading Commission (CFTC) has filed and simultaneously settled charges against James M Peister and his company, Northstar International Group, (Northstar), that they defrauded commodity pool participants by concealing trading losses and using participants’ funds to make payments to other participants and for business and personal expenses. Peister resides in St. James, NY, and Northstar is located in Oceanside, NY. »

Money frozen in ice

Utah Federal Court freezes assets of Robert Andres and his Houston firm

Wed, 02/02/2011 - 12:49

The US Commodity Futures Trading Commission (CFTC) has obtained a federal court order freezing assets held by defendants Robert J. Andres and Winsome Investment Trust (Winsome), both of Houston, Texas, Robert L. Holloway of San Diego, California, and US Ventures LC (USV) of Salt Lake City, Utah. »

No fraud sign

Diamond Ventures to pay more than USD4m over forex fraud

Wed, 26/01/2011 - 16:00

The US Commodity Futures Trading Commission (CFTC) has obtained more than USD4 million in restitution and civil monetary penalties in a federal judgment order against defendants Beau Diamond and his company, Diamond Ventures LLC (DVL), both of Sarasota, Florida. »

Fraud work with magnifying glass

CFTC charges Arizona resident Anthony Eugene Linton over foreign currency Ponzi scheme

Tue, 25/01/2011 - 12:06

The US Commodity Futures Trading Commission (CFTC) has obtained an emergency federal court order freezing the assets of defendant Anthony Eugene Linton of Tucson, Arizona, dba The Private Trading Pool. The court’s order also prohibits the destruction of books and records and grants the CFTC immediate access to such documents. »

Fraud

SEC charges sub-prime loan hedge fund managers with fraudulent misuse of assets

Wed, 22/12/2010 - 15:07

The Securities and Exchange Commission has charged two San Francisco-based investment adviser firms along with their former chief executive, former general counsel, and former portfolio manager with defrauding investors in a USD100m hedge fund that invested in sub-prime automobile loans.  »

Gold

CFTC charges California man and firms in USD5.5m precious metals scheme

Thu, 16/12/2010 - 15:15

The US Commodity Futures Trading Commission has filed a civil complaint against California-based defendants Ryan A. Nassbridges, American Bullion Exchange ABEX Corp. and American Bullion Exchange LLC, charging them with fraudulent solicitation and misappropriation in connection with precious metals futures and options fraud. »

Handcuffs and money

Patrick Dailey and Strongbow Investments fined USD2.8m for commodity pool fraud

Wed, 15/12/2010 - 13:19

The US Commodity Futures Trading Commission has obtained more than USD2.8m in restitution and civil monetary penalties in a federal judgment order against defendants Patrick J. Dailey of California and his company Strongbow Investments of Austin, Texas. »

Law books and gavel

CFTC charges Vincent Patrick McCrudden with registration violations

Wed, 15/12/2010 - 12:19

The US Commodity Futures Trading Commission has filed a complaint alleging registration violations against Vincent Patrick McCrudden of New York, Alnbri Management, and Managed Accounts Asset Management. »

Fraud

CFTC charges floor broker Kent Whitney with options fraud

Mon, 13/12/2010 - 10:16

The US Commodity Futures Trading Commission has filed an enforcement action charging Kent R.E. Whitney, a registered floor broker, with making false and misleading statements to Chicago Mercantile Exchange representatives, futures commission merchants and others in connection with a scheme to trade options without posting the required margin.  »

Handcuffs and money

CFTC charges MXBK with defrauding hundreds of US customers

Thu, 09/12/2010 - 15:00

The US Commodity Futures Trading Commission has filed an enforcement action in the US District Court for the District of Utah, charging MXBK Group, a private Mexican financial services holding company, and its foreign currency trading division, MBFX, with issuing false customer statements and misrepresenting trading results on its website in connection with its foreign currency trading enterprise. »

Gavel

Court fines defendants USD26m for multi-million dollar Ponzi scheme

Thu, 09/12/2010 - 13:53

The US Commodity Futures Trading Commission has obtained more than USD26m in restitution and civil monetary penalties against defendants Kenneth W. Lee, Simon Yang, Prestige Ventures and Federated Management Group, and relief defendants Sheila Lee, Darren Lee and David Lee. »

Fraud

Florida residents and firm fined USD4m for defrauding investors

Thu, 09/12/2010 - 11:31

The US Commodity Futures Trading Commission has obtained a default judgment order requiring FX Professional International Solutions and its principals, Pedro de Sousa and Guillermo Rosario, to pay more than USD4m in civil monetary penalties for issuing false account statements to customers in an off-exchange foreign currency fraud. »

SEC chairman Mary L. Schapiro

SEC proposes joint rules with CFTC to define swap related terms

Mon, 06/12/2010 - 14:26

The Securities and Exchange Commission has voted unanimously to propose joint rules with the Commodity Futures Trading Commission that would further define a series of terms related to the security-based swaps market. »

Handcuffs and money

SEC brings proceeding against fund manager for uncooperative behaviour

Mon, 22/11/2010 - 11:29

The US Securities and Exchange Commission has instituted public administrative and cease-and-desist proceedings against Thrasher Capital Management and its chief executive officer and managing member, James Perkins.  »

Handcuffs and money

CFTC charges Florida and Virginia residents with USD28m Ponzi scheme

Mon, 08/11/2010 - 15:01

The US Commodity Futures Trading Commission has filed an enforcement action charging Phillip Milton of Palm Beach Gardens, Florida, Gregory Center of McLean, Virginia, William Center of Richmond, Virginia, and their company Trade, based in Palm Spring Gardens, Florida, with operating a Ponzi scheme involving approximately USD28m in connection with the Trade commodity pool. »

Ponzi scheme

CFTC charges Richard Theye and Micind Capital with running Ponzi scheme

Mon, 08/11/2010 - 12:03

The US Commodity Futures Trading Commission has filed an action in federal court in Austin, Texas, charging Richard D. Theye and his company Micind Capital Management with fraud in connection with running a multi-million dollar Ponzi scheme. »

Fraud

CFTC charges Highlands Capital Management with defrauding customers

Mon, 08/11/2010 - 10:30

The US Commodity Futures Trading Commission has filed an enforcement action charging Highlands Capital Management, based in San Francisco, California, and its principal Glenn Kane Jackson of Tiburon, California, with operating a fraudulent off-exchange foreign currency scheme. »

David Friedland, president of the Hedge Fund Association

Hedge Fund Association opposes self-regulatory organisation

Mon, 08/11/2010 - 06:14

The Hedge Fund Association is opposing the creation of any hedge fund self-regulatory organisation. »

Ponzi scheme

CFTC charges Griggs and Aloha with multi-million dollar Ponzi scheme

Mon, 01/11/2010 - 10:16

The US Commodity Futures Trading Commission has filed an enforcement action charging Perry Jay Griggs, a convicted felon and current fugitive, and his wife, Rachelle Griggs, most recently from Las Vegas, and their company, Aloha Trading, with operating a multi-million dollar commodity futures Ponzi scheme from at least 2005 through 2009. »

Fraud

Court fines Texas defendants USD16.2m in CFTC anti-fraud action

Thu, 28/10/2010 - 10:38

The US Commodity Futures Trading Commission has obtained more than USD16.2m in restitution and civil monetary penalties in a federal court order against defendants Scott P. Kear, Sr., Jeffery L. Lyon and entities they controlled, M25 Investments and M37 Investments, all of Waxahachie, Texas. »

Pocket

SEC targets use of side pockets by hedge funds

Mon, 25/10/2010 - 10:25

The Securities and Exchange Commission’s asset management unit has been investigating whether hedge fund managers have overvalued assets in “side pockets” and then charged investors higher fees based on those inflated values. »

Bernard L. Madoff

Investment managers and advisers sued over plan investments with Madoff

Sun, 24/10/2010 - 11:12

The US Department of Labor has sued Beacon Associates Management, Andover Associates Management, Ivy Asset Management, J.P. Jeanneret Associates and the principals of the four companies for causing dozens of pension, health and other employee benefit plan clients to lose hundreds of millions of dollars through investments with Bernard L. Madoff and his firm. »

Handcuffs and money

CFTC enforcement programme filings increase 14 per cent

Wed, 06/10/2010 - 12:35

The US Commodity Futures Trading Commission’s enforcement programme filed 57 enforcement actions in fiscal year 2010, 14 per cent more than in FY 2009 and 42 per cent more than in FY 2008.  »

Gavel

CFTC charges accounting firms with failure to audit Sentinel properly

Tue, 05/10/2010 - 16:16

The US Commodity Futures Trading Commission has filed and settled charges against public accounting firms McGladrey & Pullen and Altschuler, Melvoin & Glasser and partner G. Victor Johnson II for failing to audit properly Sentinel Management Group.  »

Ponzi scheme

CFTC charges Integra Capital Management with USD3m Ponzi scheme

Sun, 03/10/2010 - 12:34

The US Commodity Futures Trading Commission has obtained an emergency federal court order freezing the assets of defendants Rodney W. Whitney, Nicholas T. Cox and Integra Capital Management of North Carolina. »

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