A Bear Stearns investment fund hurt by the decline in the subprime mortgage market and facing creditors’ complaints about its management asked a Delaware judge to allow it to dissolve and liquidate its assets. Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage Fund LP was linked to a Cayman Islands-based fund shutting down because of […]
On November 14, 2007, Secretary Galvin charged Bear Stearns with engaging in improper trading activities at two collapsed hedge funds. Filed on behalf of Massachusetts investors in the funds, the suit charges Bear Stearns Asset Management traded mortgage-backed securities, collateralized debt obligations and other securities from its own account with hedge funds it advised without […]
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. […]