Marc Dreier, the New York law firm founder accused of cheating hedge funds and other investors of more than $400m, was indicted by a federal grand jury.
Santander plans to repay Madoff victims (Fund News)
Santander on Tuesday night offered private clients to repay 100 per cent of the investments made in the Optimal Strategic US Equity fund, which was wholly invested with Mr Madoff. In exchange, clients would have to agree not to sue.
Nomura Holdings, Japan’s largest brokerage, posted a $3.8bn loss for the fourth quarter, hit by the cost of buying Lehman Brothers’ operations and trading losses amid financial market turmoil.
SEC charges fund manager Arthur Nadel with fraud (Fund News)
The U.S. Securities and Exchange Commission charged missing Florida money manager Arthur Nadel with fraud on Wednesday and accused him of recently transferring more than $1m to secret accounts he held.
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