$$$ Hassan Nemazee charged in $290 million fraud [Reuters]
$$$ "In addition, Mr. Cioffi was executive producer of two independent films, including a 2006 vehicle for Rosie Perez and a movie called Follow the Prophet, which isn't about the pursuit of money but, rather, a teenager escaping marriage to the leader of a polygamist cult. [Crain's]
$$$ Bank of America to Pay U.S. $425 Million to Remove Merrill Asset Guarantee [Bloomberg]
$$$ The Pandora's Box of Wells Fargo and Commercial Real Estate [FT Alphaville]
$$$ 2 men charged with $80 million Ponzi scheme [AP]
Posted by guest , Sep 21, 2009 6:40PM
Why does a $80 mil ponzi scheme sound like they should get off with a slap on the wrist and a $1000 fine with 20 hours community service?
Gosh, America and it's superlatives ...
Posted by guest , Sep 21, 2009 6:43PM
Why does a $80 mil ponzi scheme sound like they should get off with a slap on the wrist and a $1000 fine with 20 hours community service?
Gosh, America and its superlatives ...
Posted by Seaman Bodine II , Sep 21, 2009 7:34PM
anyone got anything on succo shutting down besides the stuff over tin foil head land?
Posted by Last Man Standing , Sep 21, 2009 9:01PM
i think the polygamist thing is very similar to Coiffi's hedge fund
Posted by guest , Sep 21, 2009 9:10PM
@SB2 for now it's just suspending redemptions. His first offer appears to be a SpinCo/CleanCo arrangement.
Posted by Seaman Bodine II , Sep 21, 2009 10:21PM
I don't know his shop well (though he's a good guy I'm told from mutual friends), but I though there were multiple sleaves etc., so was curious if one fund was acting up, or was I wrong, and it's really just one large vol strat