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Steven A. Cohen is an American hedge-fund manager and owner of the New York Mets of Major League Baseball since September 14, 2020, owning just over 97% of the team. He is the founder of hedge fund Point72 Asset Management and S.A.C. Capital Advisors, which closed after pleading guilty to insider trading and other financial crimes.
Point72 Asset Management is an American hedge fund. It was founded in 2014 by Steve Cohen, after his previous company S.A.C. Capital Advisors pled guilty to insider trading charges.
The Abraaj Group was a private equity firm operating in six continents that is currently in liquidation due to accusations of fraud. The firm was founded by Pakistani businessman Arif Naqvi and was based in Dubai, United Arab Emirates.
Brian Hunter is a Canadian former natural gas trader for the now closed Amaranth Advisors hedge fund. Amaranth had over $9 billion in assets but collapsed in 2006 after Hunter's gamble on natural gas futures market went bad.
Sculptor Capital Management is an American global diversified alternative asset management firm. They are one of the largest institutional alternative asset managers in the world.
Marc Stuart Dreier is an American former lawyer who was sentenced to 20 years in federal prison in 2009 for committing investment fraud using a Ponzi scheme. He is scheduled to be released from FCI Sandstone on June 30, 2025. On May 11, 2009, he pleaded guilty in the United States District Court for the Southern District of New York to eight charges of fraud, which included one count of conspiracy to commit securities fraud and wire fraud, one count of money laundering, one count of securities fraud, and five counts of wire fraud in a scheme to sell more than $950 million in fictitious promissory notes. Civil charges, filed in December 2008 by the U.S. Securities and Exchange Commission, are pending. The 2011 documentary Unraveled states that "Drier stole over $740 million from 4 clients, 4 individuals, and 13 hedge funds".
The Galleon Group was one of the largest hedge fund management firms in the world, managing over $7 billion, before closing in October 2009. The firm was the epicenter of a 2009 insider trading scandal which subsequently led to its fall.
Participants in the Madoff investment scandal included employees of Bernard Madoff's investment firm with specific knowledge of the Ponzi scheme, a three-person accounting firm that assembled his reports, and a network of feeder funds that invested their clients' money with Madoff while collecting significant fees. Madoff avoided most direct financial scrutiny by accepting investments only through these feeder funds, while obtaining false auditing statements for his firm. The liquidation trustee of Madoff's firm has implicated managers of the feeder funds for ignoring signs of Madoff's deception.
International Investment Group (IIG) is an American financial institution that specializes in short-term trade finance and commercial finance with a focus on emerging markets. Through its affiliate IIG Capital it provides financing to small and medium-sized merchants, traders and processors with a need for supply chain financing.
BlueCrest Capital Management is a British-American investment firm which was founded by British billionaire Michael Platt and American William Reeves in 2000. The firm has office locations in London, Jersey, Singapore and New York.
Mathew Martoma is an American former hedge fund trader. As a portfolio manager at S.A.C. Capital Advisors, he was accused of generating possibly the largest single insider trading transaction profit in history at a value of $276 million. A jury convicted him, and in November 2014 he began serving a nine-year prison sentence. He was incarcerated at FCI Miami as inmate 01138-104, and released early on 19 July 2021.
SAC Capital Advisors was a group of hedge funds founded by Steven A. Cohen in 1992. The firm employed approximately 800 people in 2010 across its offices located in Stamford, Connecticut and New York City, and various offices. It reportedly lost many of its traders in the wake of various investigations by the Securities and Exchange Commission (SEC). In 2010, the SEC opened an insider trading investigation of SAC and in 2013 several former employees were indicted by the U.S. Department of Justice. In November 2013, the firm itself pleaded guilty to insider trading charges and paid $1.2 billion in penalties. The firm shrank after returning the vast majority of its outside investor capital. Point72 Asset Management was established as a separate family office in 2014. SAC ceased to exist as a separate entity in 2016. Point 72, essentially the continuation of SAC, manages 30 Billion as of 2023.
Michael Edward Platt is a British billionaire hedge fund manager. He is the co-founder and managing director of BlueCrest Capital Management, Europe's third-largest hedge-fund firm which he co-founded in 2000. He is Britain's wealthiest hedge fund manager according to the Forbes Real Time Billionaires List, with an estimated wealth of US$15.2 billion.
William O. Perkins III is an American hedge fund manager, and poker player. Perkins manages Skylar Capital, an energy trading hedge fund that had approximately $500 million in assets under management as of 2023.
Sanjay Shah is a Dubai-based British trader currently being accused of tax fraud. He founded Solo Capital, a hedge fund firm in Britain which closed in 2016, and the NGO Autism Rocks, which closed in 2020.
The CumEx-Files is an investigation by a number of European news media outlets into a tax fraud scheme discovered by them in 2017. A network of banks, stock traders, and lawyers had obtained billions from European treasuries through suspected fraud and speculation involving dividend taxes. The five hardest hit countries may have lost at least $62.9 billion. Germany is the hardest hit country, with around $36.2 billion withdrawn from the German treasury. Estimated losses for other countries include at least €17 billion for France, €4.5 billion in Italy, €1.7 billion in Denmark and €201 million for Belgium.
Visium Asset Management LP was an American multi-strategy hedge fund and private equity firm. It began as a healthcare-focused fund, founded in 2005 by Jacob Gottlieb. In 2016, three of the company's traders were indicted by United States federal authorities for securities fraud. One of the accused employees killed himself days after he was indicted. Visium subsequently liquidated several of its funds and wound down operations.
Mismarking in securities valuation takes place when the value that is assigned to securities does not reflect what the securities are actually worth, due to intentional fraudulent mispricing. Mismarking misleads investors and fund executives about how much the securities in a securities portfolio managed by a trader are worth, and thus misrepresents performance. When a trader engages in mismarking, it allows him to obtain a higher bonus from the financial firm for which he works, where his bonus is calculated by the performance of the securities portfolio that he is managing.
Sung Kook Hwang, also known as Bill Hwang, is a South Korean-born American investor, trader and convicted fraudster. He ran Archegos Capital Management, whose default on March 26, 2021 caused major losses to several notable investment banks. In April 2021, The Wall Street Journal reported that Hwang had lost US$20 billion over 10 days in late March, imposing large losses on his bankers Nomura and Credit Suisse. On April 27, 2022, he was indicted on federal charges of fraud and racketeering. The default of Archegos contributed to the eventual collapse of Credit Suisse.
AKO Capital (AKO) is a British investment management firm based in London that focuses on investment in equities. It was founded by Nicolai Tangen who later relinquished his position and ownership of the firm so he could manage the Government Pension Fund of Norway, the largest sovereign wealth fund in the world.
References
- ↑ "Solo Capital Partners LLP - Company Profile and News". Bloomberg.com. Retrieved 2024-03-13.
- 1 2 3 "British hedge fund trader goes on trial in Denmark accused of £1bn fraud". The Guardian. Agence France-Presse. 2024-03-11. ISSN 0261-3077 . Retrieved 2024-03-13.
- ↑ Dakers, Marion (2016-07-16). "Troubled hedge fund Solo Capital shuts its doors". The Telegraph. ISSN 0307-1235 . Retrieved 2024-03-13.
- 1 2 "Hedge Fund Solo Capital Partners to Close Amid Reports of Probe". Bloomberg.com. 2015-11-26. Retrieved 2024-03-13.
- 1 2 3 4 Segal, David (2018-10-05). "Where in the World Is Denmark's $2 Billion?". The New York Times. ISSN 0362-4331 . Retrieved 2024-03-13.
- ↑ "British trader gets 8 years in prison over Danish tax fraud". Reuters . 2024-03-01. Retrieved 2024-03-12.
- ↑ "British Trader Pleads Guilty to Tax Scandal Charges in Denmark". Bloomberg.com. 2024-02-29. Retrieved 2024-03-13.