Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

News Archive

Read More Industry News >

Portland HF Manager Fined $34M for Ponzi Scheme

Sep 10, 2013
Jing Chen

A Portland hedge fund manager has agreed to pay nearly $34 million to settle a civil lawsuit brought on by the Securities and Exchange Commission.

Porland Business Journal reported that Yusad Jawed of the now defunct Grifphon Asset Management has also agreed to a ban from the securities industry. Assistant U.S. Attorney Allan Garten has called the hedge fund a “typical Ponzi scheme.”

Jawed pleaded guilty to five felony counts of mail fraud and 12 felony fraud in a separate criminal case back in April. His criminal case is scheduled for September 23.

 

Read More Industry News >


Want to subscribe?

Join 15,000+ of your colleagues to receive daily hedge fund news from the definitive source in traditional and hedge fund data.

Subscribe Now


Hedge Fund Journal Reviews eVestment's Hedge Fund Database

July, 2012

Read More