Arbitration claims were filed this week with Financial Industry Regulatory Authority (FINRA) by Aidikoff, Uhl & Bakhtiari, of Beverly Hills, California. The Bear Stearns hedge fund at issue in the FINRA claims is the Bear Stearns High Grade Structured Credit Strategies Enhanced Leverage (Overseas) Fund. Three weeks ago, Massachusetts Secretary of State William Galvin charged […]
Frank Bluestein, one of the nation’s top-producing independent brokers, is under investigation by Michigan securities regulators for allegedly placing clients in partnerships that stopped paying dividends. Industry sources place Bluestein’s annual fees and commissions at close to $7 million. In the summer of 2007, he was ranked the fourth-largest independent-contractor registered representative, with $1 billion […]
Federal prosecutors have launched a criminal investigation into two Bear Stearns Cos. mortgage-related hedge funds that collapsed during the summer, according to people familiar with the matter. The U.S. attorney in Brooklyn has made a request to Bear Stearns for information related to the hedge funds, whose failure cost investors $1.6 billion, said these people. […]
The hedge fund industry is estimated to be a $875 billion business and growing at about 20% per year, with more than 8,000 active hedge funds. Most hedge funds are highly specialized, relying on the specific expertise of the manager or management team. A hedge fund manager might employ investment strategies, some of which use […]
A federal judge refused to grant protection from U.S. lawsuits for Bear Stearns Cos.’ two bankrupt hedge funds, finding the Cayman Islands was not the proper jurisdiction for them to liquidate assets. U.S. Bankruptcy Judge Burton Lifland today said the funds’ filings in the Caymans didn’t make them eligible for the protection under a provision […]