In November 2009, a federal jury in Brooklyn acquitted Ralph Cioffi and Matthew Tannin of securities fraud charges arising from the failure of their hedge fund at Bear Stearns. The case was noteworthy because it was one of the few attempts to criminally prosecute anyone for activity arising out of the 2008 financial crisis. Cioffi… Continue Reading
Category Archives: Hedge Funds
Subscribe to Hedge Funds RSS FeedWould David Einhorn Be Liable for Insider Trading under U.S. Law?
Posted in Hedge Funds, Insider TradingAs you might have read, the U.K. Financial Services Authority last week fined David Einhorn, the founder and president of hedge fund Greenlight Capital, about $11 million for insider trading in the shares of British issuer Punch Taverns Plc. The matter was settled, so the actual facts are somewhat unclear, but you can find the… Continue Reading
SEC’s Asset Management Unit Gets Ahead of the Curve
Posted in Hedge FundsBernie Madoff was arrested just over three years ago. The SEC’s side of the Madoff narrative is by now well known. In 2005 Harry Markopolos sent a lengthy memo outlining Madoff’s giant Ponzi scheme, in painful detail, to the SEC’s Boston office. Markopolos’s concerns were then directed to the Commission’s New York office. While members… Continue Reading