Sat, May 30, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

CFTC acuses AlphaMetrix of fraud, files suit

Wednesday, November 06, 2013

Bailey McCann, Opalesque New York:

The Commodities Futures Trading Commission (CFTC) has filed a complaint in the a U.S. District Court in Chicago accusing AlphaMetrix Group of fraud. The regulator alleges that the company agreed to rebate fees back to participants in the commodity pools between January 1 and October 31 of this year, but instead reinvested that money in the parent company.

AlphaMetrix has some 90 commodity pools, amounting to $700m of assets under management, but the company started to alert investors to cash-flow problems in recent weeks. Opalesque reported last week that the company would liquidate funds on its platform and continue on as an events hosting company focusing on its successful financial services conferences. In October, the National Futures Association ordered AlphaMetrix to pay $.6m in fee rebates to pool participants. The complaint comes on the heels of this news and indicates more trouble may be ahead.

According to Bloomberg BusinessWeek, both AlphaMetrix and AlphaMetrix Group are named in the complaint for two separate issues - Alphametrix LLC is......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: New TMT hedge fund adopts the long-term approach[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Adam Parker founded Center Lake Capital LLC in New York in November 2014. Before that, he was portfolio manager at Point State Capital (the successor fund to Dr

  2. Regulatory - Hedge funds face tax as Iceland poised to end capital controls, Comment: Why alternatives need more transparency, not enforcement[more]

    Hedge funds face tax as Iceland poised to end capital controls From Bloomberg.com: Hedge funds and other investors who bought claims against Icelandís failed banks face a tax that targets the lendersí estates as the government prepares to unveil its plan for exiting capital controls in t

  3. Investing - Nelson Peltzís Trian Fund Management reduces position in Legg Mason, Biotech investors up big amid bubble talk, Hedge funds increase exposure in healthcare[more]

    Nelson Peltzís Trian Fund Management reduces position in Legg Mason From Octafinance.com: Trian Fund Management has filled a SC 13D/A form regarding Legg Mason, Inc. Per Nelson Peltzís Trian Fund Managementís filing, the filler reported decreased stake in the company by -11.05% to 11,03

  4. All hedge fund strategies rebounded last week as market conditions normalize[more]

    Komfie Manalo, Opalesque Asia: After a difficult start this month, all hedge fund strategies ended last week in positive territory, as the Lyxor Hedge Fund Index gained 0.9% (-0.2% MTD, 3.3% YTD). According to Lyxor AMís latest Weekly Briefing, in t

  5. Billionaire hedge fund investor Odey says April 'bloody', has cut risk[more]

    From Reuters/Yahoo.com: Billionaire hedge fund manager Crispin Odey has cut risk and leverage following a stunning 19.3 percent loss in his 3.1 billion euros (2 billion pounds) Odey European Inc fund in April, a letter to investors seen by Reuters showed. Describing the month as "bloody", Odey

 

banner