A German national who managed a series of hedge funds based in the Cayman Islands has been indicted on federal fraud charges alleging that he oversaw a stock manipulation scheme designed to “pump up” the reported returns of his hedge
Law firm Lackey Hershman has obtained a USD21.5m jury verdict in favour of its client, Highland Capital Management, and against RBC Capital Markets, which is part of the Royal Bank of Canada (RBC). The verdict, which was rendered in the
The Federal District Court for the Southern District of New York has dismissed all claims against Systematic Alpha principals arising from the Matveev v Batratchenko case, with prejudice. The action was brought by Nicolay Matveev, a citizen of the Russian
Refco finally filed for bankruptcy protection this week and agreed to sell its core futures brokerage business for USD 768m. The bidders include an investor group&n
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. Sentinel was an
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. The order, entered on 29 September by Judge Thomas
The Securities and Exchange Commission has filed a civil injunctive action against Samuel Israel III and Daniel E.Marino, managers of the Bayou Funds. The SEC’s com
The US Commodity Futures Trading Commission has obtained an emergency federal court order freezing the assets of defendants People’s Alternative of Los Angeles and its principals, Jaime Gallardo of Pasadena and Karl Ochoa and Maria Iracheta of Los Angeles. The
The US Commodity Futures Trading Commission (CFTC) has filed an enforcement action charging the New York Mercantile Exchange (CME NYMEX) and two former employees, William Byrnes and Christopher Curtin, with violating the Commodity Exchange Act and CFTC regulations. The CFTC
The US Commodity Futures Trading Commission has charged Georgia-based Joseph L. Autry, Jr. and his company, Autry Capital Management, with fraudulently operating a Ponzi scheme that solicited and received approximately USD265,200 from seven customers to trade commodity futures contracts. Autry,
