HMC 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 ArticleFunds Tied to Madoff in Legal Vise
Gainesville Sun – As Bernard L. Madoff waits in jail to be sentenced, legal problems are accumulating for some of the hedge fund managers who helped him raise billions of dollars from around the world...
View ArticleN.Y. hedge-fund manager accused of Ponzi scheme
Denver Post – The U.S. filed civil and criminal charges against New York hedge-fund manager Edward T. Stein, accusing him of running a "classic Ponzi scheme" that moved more than $55 million through...
View ArticleTexas Resident to Pay $71 Million to Defrauded Investors
New York (HedgeCo.Net) – Texas Resident George D. Hudgins must pay $71 million following a federal court order obtained by the CFTC, to pay back victims of his Ponzi scheme and to settle a $15 million...
View ArticleSEC Halts Canada/China Hedge Fund Fraud
West Palm Beach (HedgeCo.net) – The Securities and Exchange Commission filed a restraining order yesterday to halt an on-going multi-million dollar Ponzi scheme. The SEC says that Defendant, Toronto...
View ArticleCuomo Sues Hedge Fund Chief for Bets Placed with Madoff
New York (HedgeCo.Net) – J. Ezra Merkin, head of Gabriel Capital Corp., has been sued by New York Attorney General Andrew Cuomo, after it was discovered he had placed investor’s money into funds...
View Article‘Maverick’ Billionaire Tearfully Denies Any Wrongdoing to Cameras
New York (HedgeCo.Net) – R. Allen Stanford’s fate may be up in the air with a looming trial and the accusations of a major Ponzi scheme, but that didn’t stop him from opening up to ABC News cameras...
View ArticleFormer chairman of GM financial arm charged in Madoff-related fraud
WSWS – New York State Attorney General Andrew Cuomo on Monday charged J. Ezra Merkin, a multi-millionaire hedge fund manager and former chairman of GMAC Financial Services, the financial arm of General...
View ArticleUnions sue hedge funds over money lost by Madoff
Las Vegas Sun – Two Las Vegas unions claim to have lost almost $2 million in retirement funds to the Bernard Madoff Ponzi scheme, and have sued the hedge fund in which they had invested that money. The...
View ArticleDemand for Hedge Fund Separate Accounts ‘a Knee-Jerk Reaction’
Bloomberg – Hedge fund investors’ growing demands for separate accounts may be an overreaction to increasing redemptions and fraud, participants said at an industry conference in Hong Kong this week....
View ArticleBronte Capital exposes rogue Hedge Fund Marketers who Link the Biden family...
West Palm Beach (HedgeCo.net) – On the 18 of March, the Australian Hedge Fund & Research team at Bronte Capital began dropping hints regarding an un-named $60 million dollar Ponzi Scheme. In a blog...
View ArticleMadoff buddy, Ezra Merkin, sued over plunder from Ponzi scheme
New York Daily News – Ezra Merkin should have known better, a lawsuit claims. The Park Avenue hedge fund king funneled investments to Bernie Madoff and received millions in fees Merkin knew were the...
View ArticleAnother Madoff linked hedge fund sued
NineMSN – The trustee overseeing the liquidation of disgraced financier Bernard Madoff’s assets sued another investment fund on Tuesday, claiming it owes Madoff’s victims more than $US1 billion ($A1.32...
View ArticleMan linked to Madoff to yield control of funds
Denver Post – J. Ezra Merkin, a hedge-fund manager who invested billions of dollars of clients’ money with swindler Bernard Madoff, has agreed to relinquish control of his funds to court-appointed...
View ArticleFairfield Hedge Funds Sued by Madoff Trustee
Newsinferno.com – Bernard Madoff trustee, Irving Picard, has sued three Fairfield Greenwich Group hedge funds—Fairfield Sentry Ltd., Greenwich Sentry LP, and Greenwich Sentry Partners LP—in a clawback...
View ArticleHedge Fund Insurance Costs Rise as Lehman, Madoff Spur Scrutiny
Bloomberg – The cost of insuring hedge funds against negligence has risen as much as 20 percent in the past six months after Lehman Brothers Holdings Inc.’s bankruptcy and Bernard Madoff’s Ponzi scheme...
View ArticleSpanish bank to repay $235M it withdrew from Madoff scheme
USA Today – A Spanish banking giant that channeled $3 billion of its clients’ funds to Bernard Madoff has agreed to repay more than $235 million it withdrew from the confessed Ponzi scheme architect in...
View ArticleIt’s Thankless, but He Decides Madoff Claims
New York Times – The Ponzi scheme’s victims denounce him as cold-hearted, dishonest and just plain wrong No, they are not describing Bernard L. Madoff, the author of the fraud that has ruined their...
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