by Staff Writer on July 19, 2012
Wall Street Sheriff Preet Bharara Talks Insider Trading [Forbes] For a guy who’s supposed to be the scourge of Wall Street, Preet Bharara sure drew a friendly reception from an industry crowd Wednesday. The U.S. Attorney for the Southern District of New York peppered his appearance at CNBC and Institutional Investor’s Delivering Alpha with one-liners that had the audience laughing right from the start.
Inside The Sold-Out Poker Tournament Attended By Whitney Tilson, David Einhorn, And Other Hedge Fund Big Shots [BusinessInsider] Hundreds of hedge funders, bankers and many others filled up Manhattan’s gorgeous Gotham Hall last night for a sold out charity poker tournament. REACH (Rewarding Achievement)–a nonprofit co-founded by T2 Partner’s Whitney Tilson and funded by Bill Ackman–hosted its third annual “Take ‘Em to School Poker Tournament.”
Man Group Finalizes Purchase of FRM [eVestmentHFN] Hedge fund giant Man Group has completed its acquisition of a rival firm. According to financial news outlet ShareCast, the world’s largest publicly traded hedge fund purchased London-based Financial Risk Management for $142.8 million.
HF Manager Kapur Arrested, Charged with Fraud [eVestmentHFN] The sole managing director of New-York-based hedge fund ThinkStrategy Capital Management was charged Tuesday with seven counts of fraud by federal prosecutors. U.S. Attorney Preet Bharara and Janice Fedarcyk, head of the Federal Bureau of Investigation’s New York office, said in a joint statement that Chetan Kapur faces one count of securities fraud, one count of investment adviser fraud, and five counts of wire fraud.
Madoff Sons’ Greenwich And Manhattan Homes Targeted By Trustee [Bloomberg] The trustee liquidating Bernard L. Madoff Investment Securities Inc. is laying claim to four homes owned by Bernard Madoff’s two sons and their spouses as he seeks to recoup money lost in the Ponzi scheme. Irving Picard filed so-called lis pendens notices last week on two homes in Greenwich, Connecticut, and two luxury condominiums in Manhattan purchased by Mark and Andrew Madoff and their wives, according to public records.
HF Manager Drops Case Against Ex-Wife [eVestmentHFN] The New York hedge fund manager who sued his ex-wife last month over her $1 million designer shoe collection has decided not to go forward with the lawsuit. According to the New York Post, Daniel Shak, founder of SHK Asset Management, told his lawyer to drop the case against Beth Shak during a court appearance on Tuesday.