Industry Secures Pool Of Water For Restrictions Victoria’s swimming pool and spa industry invests $250,000 to secure ground water to fill pools and spas when Melbourne’s stage 3 water restrictions take effect next year.... Read Full Article BA Puts £158 Fuel Surcharge On Long Haul Flights British Airways (BA), the national flag carrier at the centre of the T5 debacle, today announced its twelfth increase in fuel surcharges in four years as it continued to blame high oil prices for th... Read Full Article Basics: Small And Smaller Ultraportable notebook computers ? supercompact, lightweight laptops that slip into briefcases ? appear to be finding favor with American tastes.... Read Full Article Rubin Is Reported Set To Back Clinton Robert E. Rubin, Treasury secretary in the Clinton administration and new chairman of Citigroup, will support Senator Hillary Rodham Clinton, people close to both of them said on Wednesday.... Read Full Article Grammy Nominations Include Six For Winehouse The British soul singer was nominated in all four of the most prestigious categories; Kanye West got eight nominations.... Read Full Article |
Canadian Hedge Fund’s Founders Charged With FraudOTTAWA, Sept. 26 — The Canadian police charged the founders of a once-wealthy hedge fund, now bankrupt, with fraud on Wednesday. Boaz Manor, who left Toronto for Israel after the collapse in 2005 of the fund, Portus Alternative Asset Management, was charged with 13 counts of fraud, three counts of money laundering, and one count each of obstructing justice and possession of property obtained by crime. His former partner, Michael Mendelson, was charged with a dozen counts of fraud, as well as money laundering and crime-related property possession. In a statement, the Royal Canadian Mounted Police said money collected from about 26,000 clients, mostly Canadians, was not placed in investments as Portus promised. Instead, the police said, some of the money was used to finance Portuss operations or was paid to its executives and employees in a variety of ways, including management fees, performance fees and salaries. Portus once was worth 800 million Canadian dollars. Tag CloudExternal InformationAdditional InformationOne Word for Airplane Makers: Plastics...Equity Firm Makes $1 Billion Investment in MBIA... Mixed Results on Eve of Inflation Numbers... Advertising: Forget the Calendar: The Beauty Is in 30 Days of Marketing... Where Am I?News Main Page - Business - Canadian Hedge Fund’s Founders Charged With Fraud |
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