Wednesday, February 08, 2012

 
 
 

 
 
 
 
 
The latest Madoff: A $1.8 billion hedge fund fraud
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Friday, February 27, 2009
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These two scumbags allegedly used their fund as "their personal piggy-bank to furnish lavish and luxurious lifestyles, which include the purchase of multimillion-dollar homes, a horse farm, cars, horses, and rare collectibles such as Steiff teddy bears."

But, once again, shame on the SEC for not noticing these guys. According to allegations in the article, from January 1995 to September 2008, WG Trading (the fraudulent fund) never reported a negative month. Such performance, much like Madoff's returns, is highly statistically unlikely... if not impossible.

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Topics: Fraud | Boondoggle
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