Harbinger’s Falcone gives details on SEC probes
BOSTON/NEW YORK, April 28 (Reuters) – Billionaire hedge
fund manager Philip Falcone recently gave investors more
information about three U.S. government investigations into his
Harbinger Capital Partners fund firm.
In a year-end financial statement, Falcone also disclosed
for the first time that his $6 billion firm paid $60 million to
settle a lawsuit with NACCO Industries.
From Hannibal Lecter to Bernie Madoff
NEW YORK (Reuters) – Bernard Madoff — the architect of history’s biggest Ponzi scheme — and Gary Ridgway – the Green River killer — would seem to have little in common aside from being branded as “monsters” in the tabloids.
But a team of FBI agents, the same ones who specialize in helping local police track down serial killers like Ridgway, are using their expertise in behavioral profiling to target white collar criminals like Madoff.
The Silence of the Madoffs
The FBI profiling group made famous in the movie The Silence of the Lambs is turning its attention to white collar criminals. It’s not that the FBI has grown bored with serial killers, it is more an indication of the growth industry white collar crime seems to have become.
The financial crisis not only was the undoing of Bernie Madoff’s long-running Ponzi scheme, it also brought down Allen Stanford’s empire and exposed dozens of other apparent investment schemes. And, lately, it appears federal authorities in New York keep finding another hedge fund trader who made money from illegal stock tips.
Special Report: From Hannibal Lecter to Bernie Madoff
NEW YORK (Reuters) – Bernard Madoff — the architect of history’s biggest Ponzi scheme — and Gary Ridgway – the Green River killer — would seem to have little in common aside from being branded as “monsters” in the tabloids.
But a team of FBI agents, the same ones who specialize in helping local police track down serial killers like Ridgway, are using their expertise in behavioral profiling to target white collar criminals like Madoff.
U.S.: Doctor-turned-trader paid cash for stock tips
NEW YORK/BOSTON (Reuters) – An Ivy League-trained doctor-turned-stock-picker has been charged with insider trading, accused of showering a French physician with cash and a luxury trip to New York in exchange for secret details on a biotechnology company.
Joseph “Chip” Skowron, who ran hedge fund firm FrontPoint Partners’ healthcare funds, was expected to appear later Wednesday in federal court on criminal securities fraud and conspiracy charges. The FBI said he surrendered Wednesday morning in Manhattan.
Doctor-turned-trader paid cash for stock tips
NEW YORK/BOSTON (Reuters) – A former manager at hedge fund FrontPoint Partners LLC has been charged with insider trading, accused of showering a French doctor with cash and a luxury trip to New York in exchange for secret details on a biotechnology company.
Joseph “Chip” Skowron, who ran FrontPoint’s healthcare funds, was expected to appear later Wednesday in federal court on criminal securities fraud and conspiracy charges. The FBI said he surrendered Wednesday morning in Manhattan.
Doctor-turned-trader paid cash for stock tips – U.S.
NEW YORK/BOSTON (Reuters) – A former manager at hedge fund FrontPoint Partners LLC has been charged with insider trading, accused of showering a French doctor with cash and a luxury trip to New York in exchange for secret details on a biotechnology company.
Joseph “Chip” Skowron, who ran FrontPoint’s healthcare funds, was expected to appear later Wednesday in federal court on criminal securities fraud and conspiracy charges. The FBI said he surrendered Wednesday morning in Manhattan.
Ex-FrontPoint exec charged in insider case
NEW YORK/BOSTON (Reuters) – A former manager at the hedge fund FrontPoint Partners LLC has been charged with insider trading, becoming the most prominent investor embroiled in a crackdown on illegal stock tips solicited from so-called expert network industry consultants.
Chip Skowron, a doctor who ran healthcare-oriented hedge funds, was expected to appear later Wednesday in federal court on criminal securities fraud and conspiracy charges, a person familiar with the matter said. The FBI said he had surrendered to federal authorities in Manhattan.
Einhorn’s shorts dragged down fund’s returns in Q1
BOSTON/NEW YORK, April 11 (Reuters) – Hedge fund manager
David Einhorn is coming up short this year largely because some
of the bets he made on stocks falling haven’t panned out.
In the first quarter, Einhorn’s Greenlight Capital
Qualified LP dipped 2.9 percent, compared to an average 2
percent gain for the hedge fund industry.
Falcone-backed telecom tests IPO waters
NEW YORK/BOSTON (Reuters) – Billionaire hedge fund investor Philip Falcone may have found a way out of his risky wireless telecom bet through a possible initial public offering, three sources said.
LightSquared, the upstart telecom backed by Falcone’s hedge fund, could file for an IPO as early as this summer, said one person familiar with the matter. It has been meeting with Wall Street telecom analysts and institutional investors to discuss its business plan.
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