The brother of an imprisoned ex-billionaire hedge fund founder was acquitted of conspiracy on Tuesday, handing Manhattan prosecutors their first loss after dozens of insider trading convictions in prosecutions that relied heavily on wiretaps and the testimony of those who pleaded guilty. After the verdict was announced, Rengan Rajaratnam hugged attorneys before jurors even left the room. The smiling 43-year-old defendant left the courthouse without commenting. He still faces civil charges from the Securities and Exchange Commission. Read more via: ABCNews.com
Global macro hedge funds are showing signs of life after weathering a difficult period. These funds, which bet on movements in instruments as diverse as bonds, equities, currencies and commodities, are famous for large returns and big directional trades by the likes of billionaire George Soros. In recent years, the funds’ returns have been hurt by the difficulty of predicting the moves of politicians and lawmakers. Read more via: WSJ.com
The former wife of a leading philanthropist suggested that she had influenced him to give so much of his wealth to good causes.
Jamie Cooper-Hohn said during what could be Britain’s first billion pound divorce case that when she met Sir Christopher Hohn he was only interested in becoming rich.
She suggested that she had directed his attention to charitable giving. Read more via: Telegraph.co.uk