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Hedge fund

Police & Fire
Greenwich Investment Firm Founder Stole Millions In Clients' Cash: Feds Greenwich Investment Firm Founder Stole Millions In Clients' Cash: Feds
Greenwich Investment Firm Founder Stole Millions In Clients' Cash: Feds A 49-year-old Connecticut man faces potentially decades in prison after he allegedly defrauded and stole $3.5 million of his client's money for years, federal authorities said.  Justin C. Murphy, 49, of Stamford, is charged with 15 counts of wire fraud, five counts of money laundering, and three counts of tax evasion, the US Attorney for Connecticut announced on Tuesday, Nov. 5.  Murphy ran the Greenwich-based investment firm Mara. The company also went by Mara Investment Group, LLC, Mara Investment Management LP, and Mara Investments Global Management LLC.  Federal inv…

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by Josh Lanier
Lifestyle
Brand-New Forbes Rankings Reveal Richest CT Residents Brand-New Forbes Rankings Reveal Richest CT Residents
Brand-New Forbes Rankings Reveal Richest CT Residents The old saying the rich get richer isn't true this year according to Forbes which just came out with their top 400 wealthiest people in the country for 2022. As a group, the 400 are worth $4 trillion to $500 billion less than last year and for the first time since the Great Recession, the minimum net worth to make the list is down $200 million to $2.7 billion amid the market selloff. But of course, there are still plenty in Connecticut who made the list ranging from hedge fund owners to inherited wealth. So who are the richest people in Connecticut? Here are the top-ranked folks who made t…

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by Kathy Reakes
News
Socialite Who Secretly Recorded Minors In Sexual Acts Released From Prison Socialite Who Secretly Recorded Minors In Sexual Acts Released From Prison
Socialite Who Secretly Recorded Minors In Sexual Acts Released From Prison A socialite rom the region who pleaded guilty to voyeurism charges after she filmed three people, including a minor, without their consent, has been released from prison. Fairfield County resident Hadley Palmer, age 53, of Greenwich, was released on Wednesday, May 4, after serving 90 days as part of a plea agreement, according to the Daily Mail. Palmer, who had been serving her time in the York Correctional Institution, the state prison for women in Niantic, since Feb. 4, still faces between 90 days and five years in jail when sentenced in August after admitting the offenses in January…

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by Kathy Reakes
Lifestyle
This Fairfield County Resident Is Connecticut's Richest Person, Forbes Says This Fairfield County Resident Is Connecticut's Richest Person, Forbes Says
This Fairfield County Resident Is Connecticut's Richest Person, Forbes Says With a net worth of nearly $20 billion, Greenwich investor Ray Dalio has been named the wealthiest man in the Nutmeg State State - among the richest in the country - according to a new Forbes report. For the fifth straight year, Forbes ran the numbers to determine the wealthiest resident in each of the 50 states, with Dalio and his estimated $18.4 billion net worth tops in Connecticut According to the report, 53 billionaires and centimillionaires (with wealth of $100 million or more) made the ranks - three states had ties - with a collective net worth of $875 billion, up from…

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by Zak Failla
News
Fairfield County Man, 49, Sentenced For $6M Ponzi Scheme Fairfield County Man, 49, Sentenced For $6M Ponzi Scheme
Fairfield County Man, 49, Sentenced For $6M Ponzi Scheme A 49-year-old Wilton man was sentenced to more than three years in prison Tuesday for using hedge-fund money for his own personal use as part of a $6 million-plus Ponzi scheme. Steven Simmons was sentenced to 37 months in prison by U.S. District Judge Kimba M. Wood. Simmons, who solicited over $6 million in investments for a hedge fund, misappropriated nearly $2 million of these funds for his own use and that of a co-conspirator, said Geoffrey Berman, the United States Attorney for the Southern District of New York. Other investor funds solicited by Simmons were used by the owner of the He…

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by Joe Lombardi