Hedge funds push boat out for Ark charity
Times Online- This week, some of the City’s wealthiest people will descend on a lavish party in London intent on giving away a large chunk of their personal fortunes. More than 1,100 will pile into the...
View ArticleAozora Net Falls 75% as Fees, Hedge Fund Returns Drop
Bloomberg – Aozora Bank Ltd., the Japanese lender controlled by U.S. buyout fund Cerberus Capital Management LP, said first-quarter profit fell 75 percent as fees declined and returns on investments in...
View ArticleHedge Fund Business Lifts Profit for Blackstone
New York Times – The Blackstone Group may be best known as an immense private equity firm, but the firm’s earnings report on Wednesday made it clear that Blackstone has been buoyed by its hedge fund...
View ArticleBlackstone’s income falls, but beats expectations
International Herald Tribune – Blackstone Group, manager of the world’s largest leveraged-buyout fund, said Wednesday that second-quarter profit beat analysts’ estimates as gains from hedge funds...
View ArticleBlackRock tops retail fund sales
Reuters UK – Fund firm BlackRock held onto the top spot for net sales of British funds to retail investors in the second quarter, according to industry data, helped by sales of its hedge fund-style UK...
View ArticleEpic Software turns down hedge fund buyout offer
Forbes – Business software company Epicor Software Corp. said Monday it will not pursue a $566 million buyout offer from shareholder Elliott Associates LP. Hedge funds Elliott Associates and Elliott...
View ArticleChutzpah Spree by Accused Lawyer Nets $380 Million
Bloomberg – When Manhattan lawyer Marc Dreier needed to apply a patina of reality to allegedly bogus promissory notes he was pitching to hedge funds, he used Mission Impossible- type tricks. As the...
View ArticleMadoff Avoids Jail, Continues House Arrest
New York (HedgeCo.Net) – Bernard Madoff will continue his house arrest at his swanky Manhattan apartment, after a judge refused to send him to prison on Monday. Madoff’s lawyers have pointed out that...
View ArticleDreier Claims His Son Was Promised Property, Prosecutors Say
Bloomberg - Marc Dreier, the New York lawyer accused of cheating hedge funds, said he told his 19-year-old son he could have properties worth $12.5 million after the teenager agreed to spend the summer...
View ArticleHedge Fund Manager Defended by Madoff’s Lawyer Gets 40 Months
Bloomberg - A hedge fund manager who used the same defense lawyer as Bernard Madoff received a sentence that was a third of the maximum possible after he was convicted of defrauding investors out of...
View ArticleTime flies with Nadel in custody
Herald Tribune – As Arthur G. Nadel made his way to New York Thursday under the watchful eye of U.S. marshals, the clock ticked away on the 30-day time limit faced by prosecutors to indict the man...
View ArticleAmaranth, Perella Were Victims of Dreier’s Fraud, US Says
Bloomberg – The victims of Marc Dreier, the New York lawyer charged in a $400 million fraud, included Amaranth Group Inc., Perella Weinberg Partners and Blackstone Group LP’s GSO Capital Partners, U.S....
View ArticleA fund manager who protested too much
Globe and Mail – When Mark Bloom was arrested last week in New York for allegedly bilking clients of North Hills Fund, the case marked a new low in the hedge fund world. Not just because Mr. Bloom had...
View ArticleHMC Hedge Fund Founder Grebow Sentenced to Four Years in Fraud
Bloomberg – Bret Grebow, co-founder of hedge fund HMC International LLC, was sentenced to four years in prison for defrauding investors out of $7.8 million in what prosecutors said was “a classic Ponzi...
View ArticleMadoff Trustee Locates Assets of $75 Million
Wall Street Journal – A lawyer for the court-appointed trustee liquidating Bernard Madoff’s firm confirmed they have located an additional $75 million in Madoff assets — a figure that would put the...
View ArticlePonzi Funds Said Missing
Wall Street Journal – Prosecutors said $160 million is unaccounted for in a Ponzi scheme allegedly run by hedge-fund manager James Nicholson. At a bail hearing Thursday, Assistant U.S. Attorney Maria...
View ArticleAustrian banker who pleaded guilty in US might walk
SmartBrief – Michael Berger, an Austrian banker accused of securities fraud, might go free without facing any charges, Vienna prosecutors said. Berger pleaded guilty to securities fraud in Manhattan,...
View ArticleFlorida Hedge Fund Fraudster Remains in Federal Custody
New York (HedgeCo.Net) – A former Florida hedge fund manager is being held without bail in a West Palm Beach prison after prosecutors convinced the judge he is a flight risk. Attorneys for Won-Sok Lee...
View ArticleBayou Hedge Fund Exec Sentenced
North Country Gazette – The brother of the former chief financial officer of the bankrupt hedge fund firm Bayou Group LLC has been sentenced to 21 months in federal prison of his role in concealing a...
View ArticleChicago Hedge Fund Manager Indicted
New York Times – The managing director of a collapsed Chicago hedge fund, Lake Shore Asset Management, was indicted by a federal grand jury. Prosecutors say the director, Philip J. Baker, operated a...
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