U.S. hedge fund manager gets jail in bid rigging case

first_img Related news Keywords Enforcement,  Fraud,  Hedge fundsCompanies Securities and Exchange Commission A former hedge fund manager has been sentenced to six months in jail for attempting to rig the bidding process for distressed assets from the Neiman Marcus bankruptcy.Daniel Kamensky, the founder of a New York-based hedge fund, was sentenced to six months in prison after pleading guilty to fraud and extortion charges for pressuring a rival bidder to withdraw from bidding for assets from the bankruptcy of luxury department store Neiman Marcus. He was also sentenced to six months of supervised release and fined US$55,000. BFI investors plead for firm’s sale Facebook LinkedIn Twitter Mouth mechanic turned market manipulator James Langton PwC alleges deleted emails, unusual transactions in Bridging Finance case gavel 123RF Share this article and your comments with peers on social media According to the complaint against him, Kamensky, who co-chaired a committee of unsecured creditors involved in the proceedings, threatened to use his position on that committee to prevent an investment bank from acquiring securities in the bankruptcy proceeding for a higher price than his hedge fund was offering. He also said that the fund would cease doing business with the bank.Ultimately, the bank decided not to submit its bid and informed the committee that it was because a hedge fund client had asked it not to bid.Kamensky later asked an employee of the bank to tell the committee that he’d only told the bank not to bid unless it was serious, saying, “Do you understand…I can go to jail?”He did end up facing charges from both the U.S. attorney’s office for the Southern District of New York and from the U.S. Securities and Exchange Commission (SEC). He pleaded guilty to the criminal charges on Feb. 3.“Daniel Kamensky committed bankruptcy fraud – undermining the integrity of bankruptcy proceedings and violating his fiduciary responsibility – in an effort to take extra profits for himself and his hedge fund. As he himself predicted, this fraud has now landed Daniel Kamensky in prison,” said U.S. attorney Audrey Strauss in a release.last_img read more

Rosehaven returns for a fifth season

Rosehaven returns for a fifth season Elise Archer,Minister for ArtsThe Tasmanian Government is a strong supporter of our vibrant arts sector.I am excited to announce our Government’s support of the fifth season of the hit, Logie-winning comedy series, Rosehaven, investing $500,000 through Screen Tasmania towards the production of the new season, scheduled to begin shooting in February.Filmed entirely in Tasmania, Rosehaven has charmed audiences across the country since its debut in 2016, and has since become one of the ABC’s highest-rating programs.In this season, having defeated the first agent that tried to encroach on McCallum Real Estate’s territory, Daniel (ex-pat Tasmanian Luke McGregor) and Emma (Celia Pacquola) are content for things to go back to normal. But Barbara (Kris McQuade) isn’t, and she forces them to take on more responsibility for the business. Could this be the year she finally retires? Meanwhile Daniel is regretting breaking up with the love of his life, and Emma finally gets what she’s always wanted – a Rosehaven-based nemesis. All in all, it’s Rosehaven as we know and love it – and all set in Tasmania.“This is really exciting for us, and it hasn’t quite sunk in yet. In 2015 we knew we wanted to make a TV show, but we had no idea what to write about, and we were extremely worried no one would want to watch whatever we came up with. Now we’re getting to make a fifth season, we will allow our very self-deprecating comedian brains to feel a tiny amount of pride that we’ve made a good thing. But having written that, we already feel arrogant so we take it back and apologise for getting a big head there for a second. Thank you to everyone who helped us get here, and a huge thank you to Tasmania for being such an awesome state to film in – from the amazing crew & actors we’ve found here, to the beautiful locations and local cuisine we get to eat on the weekends – we wouldn’t want to film anywhere else,” said Rosehaven Co-creators and lead actors Celia Pacquola and Luke McGregor.To date, the Tasmanian Government has now invested a total of $2.45 million in all five seasons of Rosehaven, and about 500 Tasmanian cast and crew have found work on the show.In addition, 36 emerging Tasmanian screen practitioners have also gained valuable experience and skills working on the production through training attachments.This year, the production is attaching emerging Tasmanian director Michael O’Neill (Australia’s Best Street Racer, Small Town Drifter). Michael will get the opportunity to learn first-hand from the Rosehaven director Jonathan Brough, furthering his professional development within the film industry.Season five of Rosehaven will be in production for seven weeks across southern Tasmania, employing over 70 Tasmanian cast and crew members, and is expected to generate over $2 million in the local economy.The announcement follows the recent launch of the Tasmanian Government’s Cultural and Creative Industries Recovery Strategy, which focuses on supporting the arts sector as it recovers from COVID-19 and beyond.Our ongoing commitment to Tasmanian screen production has enabled the screen industry to strengthen its capacity to develop new stories and service productions on the scale of Rosehaven, ensuring Tasmania’s unique stories, landscapes and people continue to intrigue, engage and entertain audiences around the world.Screen production has proven itself to be very COVID-safe, and this was evident at today’s Rosehaven rehearsal at the Theatre Royal. It is a natural fit for a responsible industry like screen production to seek to work in a COVID-safe environment like Tasmania.I’d like to particularly thank production companies Guesswork Television and What Horse, and the show’s producers Luke McGregor, Celia Pacquola, Kevin Whyte and Andy Walker.I also acknowledge the ongoing and substantial support the ABC and Film Victoria has provided the Rosehaven production. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:ABC, AusPol, Australia, business, covid-19, director, environment, Film Victoria, Government, industry, Minister, production, professional development, real estate, shooting, TAS, Tasmania, Tassie, Victoria read more

Household financial stress rises in June quarter: Australia

first_imgHousehold financial stress rises in June quarter: Australia Australian households experienced increased financial stress in the June 2020 quarter compared to the combined three previous quarters, according to a report released today by the Australian Bureau of Statistics (ABS).The results, collected before and during the introduction of government economic responses to COVID-19, are the first in a series of quarterly releases from the ABS’ Survey of Income and Housing.ABS Head of Household Surveys, David Zago, said more households had experienced at least one indicator of financial stress in the June 2020 quarter (38 per cent) compared to the previous three quarters (34 per cent).“We can start to see the early effects of COVID-19 on the financial wellbeing of different types of households during the June 2020 quarter. Future updates will tell us more about the full effect on household finances of responses like JobKeeper and the Coronavirus Supplement,” Mr Zago said.Financial stress increased for households with employee earnings as their main source of income, with the proportion experiencing at least one indicator of financial stress rising to 37 per cent in the June 2020 quarter, up from 31 per cent in the previous three quarters.“We found more employee households (14 per cent) sought financial help from friends or family in the June quarter than during the previous nine months (11 per cent), or sought assistance from welfare or community organisations (4 per cent, up from 2 per cent),” Mr Zago said.“More employee households drew down on savings in the June 2020 quarter (11 per cent, up from 8 per cent) and increased credit card debt by $1,000 or more (6 per cent, up from 4 per cent) to meet basic living expenses.”Average weekly income from government payments increased by $36 per week in the June 2020 quarter, compared to previous quarters, to an average of $243 per household. This increase is likely understated, as many households were interviewed prior to support payments such as the Coronavirus Supplement for JobSeeker recipients. /ABS Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:ABS, abs data, Australia, Australian, community, coronavirus, covid-19, credit card, Effect, Family, Government, housing, JobKeeper, JobSeeker, statistics, stress, survey, wellbeinglast_img read more

Western Australia coronovirus update as at 13 June 2021

first_imgWestern Australia coronovirus update as at 13 June 2021 The Department of Health has reported no new cases of COVID-19 overnight in WA.The State’s total remains at 1018.WA Health is monitoring no active cases of COVID-19 ­– 1009 people have recovered from the virus in WA.Yesterday, 442 people were swabbed at WA Health COVID clinics.There have been 1,231,907 COVID-19 tests performed in WA. Of those, 157,329 were from regional WA.Western Australians have responded positively following the State Government’s decision to provide people 30 to 49 years with access to COVID-19 vaccinations.More than 90,000 people have booked a vaccination appointment with WA Health since the announcement on 8 June. Information about vaccine eligibility and bookings is available at HealthyWA.For the latest WA vaccination figures, visit the COVID-19 Coronavirus: Vaccination dashboard.*WA Health has previously advised it is taking a cautious approach to a previously confirmed case of COVID-19.The man spent only a short time in the community, visited only a few places and wore a mask. He has returned to hotel quarantine based on an abundance of caution. Contact tracing is underway, again as a precaution.Previously all cases were cleared of their infection based on the national guidelines which does not always involve a test before completing their isolation. A pre-clearance test will now be performed in all cases.The man does not have a variant of concern and was previously vaccinated against COVID-19.To date, 96 cases of variant strains have been detected in Western Australia – 53 of the Alpha (UK variant) strain, 15 of the Beta (South African variant) strain, one of the Gamma (Brazilian variant) strain and 27 of the Delta (Indian variant) strain.Potential exposure sites are listed on the HealthyWA website.A list of testing clinics is also available on the HealthyWA website.Visit WA Health’s HealthyWA website for the latest information on COVID-19. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:African, Alpha, Australia, community, coronavirus, Department of Health, exposure, Government, health, infection, isolation, quarantine, vaccination, WA, WA Health, Western Australialast_img read more

Fund Management And Strategies Focus Of CU Investment Conference

first_imgShare Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Published: Oct. 24, 2004 Editors: This event is not open to the public but reporters are welcome to attend. For a complete conference schedule visit http://leeds.colorado.edu/burridge and click on conference. Investment experts, including the chief investment officer of Janus Capital Group, will converge in Denver on Nov. 4-5 for a CU-Boulder Leeds School of Business investment conference. The bulk of the conference, which is not open to the public, will be held on Nov. 5 from 8 a.m. to 1:30 p.m. at the Adam’s Mark Hotel, 1550 Court Place in Denver. A welcoming dinner will be held Nov. 4 at 7:15 p.m., also at the hotel. The conference is sponsored by the Leeds School’s Richard M. Burridge Center for Securities Analysis and Valuation. “This conference is unique because it combines expertise from the private sector with the academic side,” said Michael Stutzer, director of the center. Gary Black, president and chief investment officer of Janus Capital Group, will kick off the conference with a talk during the opening dinner on Nov. 4. The conference continues on Nov. 5 at 8 a.m. with two sessions on fund management, including the discussion “Does Fund Size Erode Mutual Fund Performance?” At 9:30 a.m., there will be three sessions on investment strategy, including a talk about the “Performance of Dividend-Paying Stocks in Bull and Bear Markets.” Professor William Ziemba of the University of British Columbia will give the conference’s final talk, “Using Horse Races to Beat the S&P 500 Cash and Futures Indices,” at 12:45 p.m. The Richard M. Burridge Center for Securities Analysis and Valuation supports the creation and dissemination of new knowledge about world financial markets, particularly U.S. financial markets.last_img read more

Nigeria operator group warns of industry collapse

first_img AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 30 MAY 2017 MTN Nigeria payments access restored A group of operators warned the Nigerian Communications Commission (NCC) it must step in to save the industry from imminent collapse, business title Leadership Nigeria reported.At a meeting with NCC executive vice chairman Umar Danbatta, the group of operators – which describe themselves as tier two and include Smile Communications, nTel and Spectranet – said there was looming systemic industry failure. This, they said, could even result in the collapse of a tier one operator.According to the group, wireless companies are struggling to pay off loans and meet commitments to suppliers including network vendors and tower companies.Executives from the companies cited spiraling operating costs set against a backdrop of flat revenue and an ever growing requirement for CAPEX investments which are difficult to justify.They called on the NCC to intervene to protect all operators through measures including banning “predatory pricing” strategies being undertaken by some of Nigeria’s leading providers.To further implore the authority to take action, the group said a collapse of an operator would have a grave knock-on impact on Nigeria’s economy and would hamper government attempts to improve connectivity. Home Nigeria operator group warns of industry collapse Previous ArticleEE earmarks full BT integration by 2021Next ArticleSafaricom CEO talks-up m-Pesa expansion potential Author Chris Donkin NCCNigeria Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved… Read more Related Tags MTN Nigeria mulls pricing change after bank row Operators warn on tough deadline for Nigeria SIM ruleslast_img read more

Applications open for interested parties to become a Tidy Towns group

first_img Gardai investigate deaths of two horses on the N56 Applications open for interested parties to become a Tidy Towns group Pinterest Twitter WhatsApp LUH still not ready to restore IT systems Previous articleDonegal Deputy claims a number of convictions made under Inland Fisheries Act 2010 are illegalNext article64 year-old appears in court charged with sexual offences dating back 37 years ago News Highland WhatsApp Google+ Google+ By News Highland – May 6, 2017 Pinterestcenter_img Twitter Facebook RELATED ARTICLESMORE FROM AUTHOR Facebook Pregnant women can receive Covid vaccine at LYIT’s vaccination centre Lárionad Acmhainní Nádúrtha CTR to take part in new research project Donegal County Council is inviting expressions of interest from any groups, towns or villages that are interested in becoming a Tidy Towns group.The Council will provide any support and advice necessary to potential future participants and groups can receive a start-up fund of €250.The closing date for applications is 26th May 2017 at 4.30pm.Fiona Kelly is from the Environment sector at Donegal County Council:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2017/05/fionakelly.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Homepage BannerNews Andrew McGinley says his children are getting him through life Donegal retains 14 Blue Flags, Lisfannon is not restoredlast_img read more

Taoiseach under pressure to move country to Level 2 for Christmas

first_img Twitter WhatsApp Important message for people attending LUH’s INR clinic Pinterest Twitter Google+ RELATED ARTICLESMORE FROM AUTHOR WhatsApp Previous articleStill no decision on extending restrictions in NorthNext articleCouncil to look at traffic issues at Mountain Top News Highland FT Report: Derry City 2 St Pats 2 Taoiseach under pressure to move country to Level 2 for Christmas Google+center_img DL Debate – 24/05/21 News, Sport and Obituaries on Monday May 24th AudioHomepage BannerNews The Taoiseach has come under pressure from members of his own party to move the country to Level 2 Covid-19 restrictions for Christmas.Yesterday, Micheal Martin said the aim was Level 3 from the 1st of December to allow businesses to re-open.However, at a meeting of the Fianna Fail parliamentary party last night, there was a ‘general consensus’ to go further and allow domestic travel and more visitors to homes.The National Public Health Emergency Team meet later to discuss the current progress with Level 5.Professor of Public Health at the University of Bristol, Gabriel Scally, says it’s important not to get ahead of ourselves when reopening next month: Facebook Derry draw with Pats: Higgins & Thomson Reaction By News Highland – November 12, 2020 Facebook Harps come back to win in Waterford Pinterestlast_img read more

Garden Gnomes take to the Streets in Inman Park Parade

first_img ‘It’s Fractured’: Georgia Lt. Gov. Geoff Duncan On Healing Republican Party For Whom The Bell Rings Hundreds of people dressed as garden gnomes, complete with pointy red hats are marching down the road. It’s all part of an annual attempt to break the world record for largest gnome march. Atlanta artist Chantelle Ritter is captain of the Krewe of the Greatful Gluttons, a social club that organizes the march. “Well of course I have hopes that we’re going to break the record, though it’s an impossible number of gnomes. But anything is possible. We are never going to give up. We are gonna do this year after year because it is ridiculous fun and we are silly people”Unfortunately with only 264 gnomes, they didn’t even come close. The record is currently held by Great Britain with 478 gnomes.Aleck Ragsdale WABE News Share Legal Advocate Discusses Medical Abuse At Shut Down Georgia ICE Facility 0:42 | Play story Add to My ListIn My List Related Storieslast_img read more

Biden poised to pick former CFTC chief Gary Gensler to head SEC

first_img 1 3 Newsletters House committee poised to advance SECURE 2.0 retirement savings bill You have read 387 of 3 free articles this week. Register now for increased access.Register for free access to this article.By registering, you can read up to 3 articles per week.RegisterAlready registered? Sign in to continue reading or subscribe for unlimited access.,MOST READ 2 InvestCloud to acquire Advicent and NaviPlan planning software 5 House panel unanimously passes SECURE 2.0 4 Why Tony Robbins, tax shelters and financial advisers don’t mix The Gates divorce: Lessons for financial advisers Subscribe for original insights, commentary and analysis of the issues facing the financial advice community, from the InvestmentNews team.last_img