Category: Self-dealing

Client Money Disappears; CEO Attempts Suicide

The FBI is now investigating the Peregrine Financial Group, a broker of commodity futures, which reported the whereabouts of $220 million of client money is unknown. The Commodity Futures Trading Commission filed in federal court to freeze any remaining funds…

Fletcher Hedge Fund Flim-Flam Goes Bust

A hedge fund company called Fletcher International Ltd. is suing to stop three Louisiana pension funds from dismantling it during bankruptcy, selling off its questionable assets. If you are not an investor, you see it coming a mile away. Investors…

Outrage Over $267 Million Bonus May Kill Merger

The planned merger of two of the world’s largest mining and commodity companies, Glencore International and Xstrata, is being threatened by the discovery Xstrata executives showered themselves with $267 million of company funds last month. The deal would create a…

Lord Black Released From Prison

Conrad Black is back in Canada this month after being released from U.S. prison where he served 42 months for massive fraud. At one point Black ran a media empire considered the third largest in the world, including publications like…