South Florida Arbitration & Litigation Lawyer BlogHedge Fund and Investment Advisor Fraud and Mismanagement Litigation and FINRA Arbitration Lawyer, Russell L. Forkey, Esq.
April, 2012:
SEC v. Pentagon Capital Management PLC et al., 08 CIV 03324 (RWS) (S.D.N.Y.)
Articles Posted in Hedge Fund Fraud News
Locust Offshore Management, LLC and Andrey C. Hicks
Hedge Fund Fraud and Mismanagement FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq.
March, 2012:
Securities and Exchange Commission v. Andrey C. Hicks and Locust Offshore Management, LLC, as Defendants, and Locust Offshore Fund, Ltd., as Relief Defendant (United States District Court for the District of Massachusetts, Civil Action No. 1:11-cv-11888-RGS)
Hedge Funds – Performance to Good to be True – Fraud Alert
December, 2011
The manner and operation of hedge funds makes it very difficult to uncover fraud or mismanagement. The SEC has allegedly come up with an objective methodology to attempt to ferret out fraudsters.
SEC Charges Multiple Hedge Fund Managers with Fraud in Inquiry Targeting Suspicious Investment Returns
Former Chicago Hedge Manager Allegedly Swindled 48 Victims in Investment Fraud Scheme
The FBI announced that a former Chicago hedge fund manager was taken into federal custody today after he turned himself in for allegedly engaging in an investment fraud scheme in which he swindled more than $3.5 million from approximately 48 victims who invested in funds he purported to operate. The defendant, James Brandolino, was charged with mail fraud in a criminal complaint filed in U.S. District Court, announced Patrick J. Fitzgerald, United States Attorney for the Northern District of Illinois; Robert D. Grant, Special Agent-in-Charge of the Chicago Office of the Federal Bureau of Investigation; and Thomas P. Brady, Inspector-in-Charge of the U.S. Postal Inspection Service in Chicago.
Brandolino, 42, of Joliet and formerly of Chicago, obtained about $4.7 million from 48 high net worth investors since 2003 for purported managed futures trading accounts and a commodity pool investment. He provided about $1.1 million in investor redemptions and allegedly lost roughly half of the total invested funds through trading and misused most of the remaining funds for his own benefit. Most of the misappropriated funds were spent, with his only remaining assets consisting of a luxury automobile, a watch and an interest in an unbuilt condominium in Greece on which he put down 80,000 Euros, or more than $107,000.
Brandolino appeared this afternoon before U.S. Magistrate Judge Michael Mason and asked to remain in federal custody.
Unscrupulous Hedge Fund Operators – Hedge Fund Fraud and Misrepresentation Florida Litigation and FINRA Arbitration Attorney
South Florida Hedge Fund Fraud, Mismanagement and Misrepresentation Litigation and Arbitration Attorney:
Hedge Fund Risk:
This post relates to the risks associated with Hedge Fund investing. Please keep in mind that this post is being provided for educational purposes only. It is not designed to be complete in all material respects. Thus, it should not be relied upon as providing investment or legal advice. If you have any questions about the contents of this post, you should contact a qualified professional.