It appears the Securtities and Exchange Commission has been reading my reporting on Bear Stearns mortgage traders cheating their clients out of bilions and double dipping on profits. Today, Jody Shenn at Bloomberg reports he’s heard J.P. Morgan received subpoenas asking for information on how Bear Stearns mortgage team sold back failed loans to mortgage […]
Continue5 May
NIR Group Investors Voting to Oust KPMG as Fund Liquidator
The battle to oust hedge fund manager Corey Ribotsky continues in face of a loss to view details of the fund’s PIPE investments and valuation methods. An important investor lawsuit was dismissed by a New York state appellate court last week, which placed a hard stop on existing court orders granted to NIR investor, Steven […]
Continue26 Apr
Hedge Fund Pot Farmer Pleads Guilty
UPDATE 6.6.16: That state of Conn. sentenced Tara Bryson to 8 years in jail, execution suspended after 2 years to serve, with three years probation, according to the clerk’s office in Litchfield County where she plead guilty to 10 counts of animal cruelty on June 3rd. The clerks office also confirmed she was taken to […]
Continue20 Apr
New Stream Executive Pot Farm Charges lead to Guilty Plea
Part of the hedge fund duo who was arrested this summer for growing a year round pot farm in Newtown, Connecticut has pleaded guilty and was sentenced to jail. I first reported in September for Forbes, how Tara Bryson, of Ridgefield-based New Stream Capital, was allegedly cultivating a pot farm in her million dollar mansion […]
Continue12 Apr
Former Bear Stearns Trading Executives Under Criminal Probe
The Manhattan District Attorney thinks Tom Marano and his star mortgage traders cheating their own clients out of billions constitutes criminal behavior. I reported today at DealFlow Media, an active investigation is under way and the D.A. plans to use the Martin Act to charge these former Bear traders. I first reported in late January […]
Continue5 Apr
Investors Try to Oust Ribotsky from NIR Group Liquidation
N.I.R. Group investors are not too pleased about a voluntary liquidation of all the AJW funds set into motion by the hedge fund last week. Today I reported for DealFlow Media ,Corey Ribotsky the fund’s manager, wrote his offshore investors on March 31st announcing the liquidation and altering them to the fact that some investors […]
Continue17 Mar
Does Plainfield Know Their Whistleblowers?
Plainfield’s general counsel, Thomas Fritsch, told a trade publication this week he thinks the Dodd-Frank Act is unfair because the fund can’t confront their anonymous accusers. You know-the ones that sent internal documents and taped conversations to the SEC in a whistleblower compliant last summer. (And everyone’s been writing about.) Well that’s odd because I […]
Continue24 Feb
SEC Takes Plainfield Asset Management Whistleblowers Suit Seriously
It looks like the Securities and Exchange Commission is taking the whistleblower complaint against Max Holmes and his hedge fund Plainfield Asset Management seriously. This month I detailed at The Distressed Debt Report specific evidence anonymous Plainfield staffers have turned over to regulators describing how Holmes has been allegedly overvaluing billions of the fund’s assets […]
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