Skip to main content

Visium Really Wishes Feds Could Have Been Satisfied With A Mismarking Settlement

But nooooooo.
  • Author:
  • Updated:
Photo: Getty Images

Photo: Getty Images

Don’t you just hate it when a more minor securities-law violation leads to the unearthing of very big (alleged) securities-law violations and the rapid unraveling of your once-$8 billion hedge fund? Really, it's the worst. Jacob Gottlieb knows what we’re talking about.

As FBI agents unraveled the mismarking scheme, they won the cooperation of witnesses who detailed other frauds to use government contacts to get inside information, according to a person familiar with the matter. In addition to the FDA information, they uncovered a plot in which Plaford traded on illegal tips from a former Centers for Medicare and Medicaid Services official who’d become a political consultant.

Visium Insider-Trading Scheme Brought Down by Mismarking Tip [Bloomberg]


Getty Images

Ex-Visium Trader Has No Idea What You're Talking About Re: Alleged Fraud

Stefan Lumiere has pleaded not guilty to securities fraud, wire fraud, and conspiracy charges.

(Getty Images)

Defunct Hedge Fund Ends Two-Year Negotiation With Feds, Allowed To Go Out Of Business

Visium Asset Management can cut its last check, one made out to “U.S. Securities and Exchange Commission.”

By NASA [Public domain], via Wikimedia Commons

Och-Ziff Could Really Use A Reputation Reserve Right Now

Engaging in massive bribery will do that to you.

This thing? Oh, pay no mind. By 東照大権現 (Own work) [Public domain or Public domain], via Wikimedia Commons

Pro Tip: Keep The People Fraudulently Inflating Your Valuations Happy

Visium Asset Management learned this one the hard way.

This is fun.

Dan Och Encouraged By Conversations He’s Having With Clients Racing Out The Door

Oh, like EVERY fund isn't dealing with 11 figure withdrawals? Oh, they're not?