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Venezuelan hedge fund manager gets 13 years for fraud scheme

Venezuelan hedge fund manager gets 13 years for fraud scheme
Over time, the fraud ballooned exponentially as Illarramendi used his Stamford-based hedge funds to try to cover up losses exceeding a half billion dollars. In 2011, he pleaded guilty to several counts of fraud and conspiracy to obstruct justice ...
Read more on Yahoo News UK

Supreme Court Denies Request to Hear Newman Case
... Todd Newman and Anthony Chiasson were convicted of securities fraud and sentenced to prison after their trades in certain stocks, allegedly based on a chain of material non-public information, resulted in over $ 70 million in gains for their hedge ...
Read more on HedgeCo.net (blog)

Having Surged In The Past Week, Are Casino Stocks A Good Buy Now?
In fact, the 15 most popular small-cap stocks among hedge funds have returned 118% since the end of August 2012 and beaten the S&P 500 Index by some 60 percentage points (see more details here). Macau gaming revenues have been atrocious for some time ...
Read more on Insider Monkey (blog)

Controversial pharma CEO Martin Shkreli bails on Valeant bet
NEW YORK (Reuters) - The one-time hedge fund executive now running a biotech firm at the center of a drug-pricing controversy on Monday said he has bailed from a losing bet he made on another contentious drug maker: Valeant Pharmaceuticals ...
Read more on GlobalPost

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Insider trading one of FBI's top 10 frauds

Insider trading one of FBI's top 10 frauds
(CNS Business): “You cannot make money in a hedge fund unless you are insider trading,” a trader who was caught by the FBI once told Supervisory Special Agent David G. Nanz. Speaking about the FBI's top 10 ... At the 11th Annual Anti-Money Laundering ...
Read more on CNS Business

US Investigates Hedge Fund Och-Ziff's Link to 0 Million Loan to Mugabe
Och-Ziff last year disclosed that a broader Justice Department and Securities and Exchange Commission investigation is examining the $ 47 billion New York hedge fund's business in Africa under the Foreign Corrupt Practices Act. The act bars firms doing ...
Read more on Wall Street Journal

Former Petrobras CEO Dutra Dead at 58, Workers' Party Says
One is collaborating with authorities and says he was part of a scheme to fraud contracts at the oil producer and use part of the proceeds to illegally fund campaigns for the party. Dutra left Petrobras earlier this year after Foster's management team ...
Read more on Bloomberg

Top Investors are Wary of These Rising Brazilian Stocks
We share the top 15 small-cap stocks favored by the best hedge fund managers every quarter and this strategy has managed to outperform the S&P 500 every year since it was launched in August 2012, returning 118% and beating the market by over 60 ...
Read more on Insider Monkey (blog)

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Chinese brokerages see surging profits in first nine months

Chinese brokerages see surging profits in first nine months
... and reserve requirement ratio (RRR) twice since August. In addition, China Securities Regulatory Commission (CSRC), the top securities regulator, has conducted strict measures to clear and rectify insider trading and market manipulation, which have ...
Read more on Xinhua

Bank Stock Roundup: Rate Hike Stance Bring Citigroup, JPMorgan in Focus at the ...
Based on sources, Citigroup's decision to divest its holding in Guangfa Bank follows a change in the latter's plan regarding an initial public offering in Hong Kong amid the rout in Chinese stock markets. Further, deteriorating profitability at Guangfa ...
Read more on Zacks.com

Former Porsche finance chief allegedly admits manipulation in VW takeover attempt
According to German prosecutors, Holger Haerter, the ex-Porsche SE chief financial officer, has decided to admit last week in court he was indeed guilty of market manipulation in relation to the botched attempt to control the Volkswagen Group ...
Read more on INAUTONEWS

FERC Seeks To Expand Electricity Market Surveillance With New Data Reporting ...
760, the Office of Enforcement has aggressively enforced energy market regulations, with a continued focus on allegedly fraudulent trading activity under its Anti-Manipulation Rule. FERC can now readily initiate non-public market manipulation ...
Read more on Mondaq News Alerts (registration)

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Latest Democracy News

America in Myanmar: Jim Crow-Style Democracy
Republican Presidential frontrunner Ben Carson ignited a firestorm when he has said he would not want to see a Muslim-American elected to the country's highest office. But few are paying attention as the Obama Administration is underwriting efforts in ...
Read more on Huffington Post

The Lords is a ludicrous affront to democracy and accountability
According to his official statement, he did so because he “feels that it is important for democracy that the House of Lords should not override decisions taken by the elected House of Commons”. He was joined on the government side by fellow ...
Read more on The Guardian

The Revolt Against 'Democracy'
The essential reality of Western governments is normally hidden behind the gauzy veil of “democracy,” only to reveal its true face in times of crisis: that's when its monstrous visage – pitted and pockmarked like the portrait of Dorian Gray by its own ...
Read more on Antiwar.com