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Although hedge funds are not subject to the many restrictions applicable to regulated funds, regulations were passed in the United States and Europe following the financial crisis of 2007–2008 with the intention of increasing government oversight of hedge funds and eliminating certain regulatory gaps. [4]
The culmination of Markopolos's analysis was a 21-page memo sent during November 2005 to SEC regulators, entitled "The World's Largest Hedge Fund is a Fraud". It outlined his suspicions in more detail and invited officials to check his theories. He outlined 30 red flags that he believed proved Madoff's returns could not be legitimate.
Hedge fund managers, broker-dealers, and institutional investors were also asked to disclose under oath certain information pertaining to their positions in credit default swaps. The commission also negotiated the largest settlements in the history of the SEC (approximately $51 billion in all) on behalf of investors who purchased auction rate ...
Galleon Holdings, the $3.7 billion hedge fund run by accused insider-trader Raj Rajaratnam (pictured), who is now free on $100 million bail, is shutting down. The big reason is that many of its ...
The Optimal SUS fund, one of Madoff's largest feeder funds, [83] agreed to pay $235 million, about 85% of the $285 million that the Geneva-based hedge fund group redeemed in the 90 days before Madoff was arrested. As of December 2008, Santander had $3.2 billion of clients' money invested with Madoff, a relationship that started in 1996.
Ponzi schemes sometimes begin as legitimate investment vehicles, such as hedge funds that can easily degenerate into a Ponzi-type scheme if they unexpectedly lose money or fail to legitimately earn the returns expected. The operators fabricate false returns or produce fraudulent audit reports instead of admitting their failure to meet ...
When comparing hedge fund ETFs or private equity ETFs, pay attention to the fund’s strategy and its underlying investments. Also, consider the ETF’s performance, risk profile, and cost.
For example, under the current system, hedge fund magnates holding hoards of Apple stock don’t need to sell any shares to pay tax on the rise in the iPhone-maker’s stock price year after year ...