Hedge fund manager allegedly faked death to avoid redemptions

Moazzam "Mark" Malik, 33, stole close to $850,000 from 16 foreign and domestic investors starting in 2011, according to a Securities and Exchange Commission complaint released last Friday.

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SEC tackles Pay-to-Play rule breakers

REVISED Pay-to-Play rules ensure the SEC wins every time traders make financial contributions to candidates elected to public office who gain influence over government assets or pension fund investment decisions etc.

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Share short selling costs $9M

THE Securities and Exchange Commission's scrutiny of share short selling has netted the watchdog more than $9 million in penalties.

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SEC trawl of tardy Form 4 filers nets 34

THE Securities and Exchange Commission has charged a plethora of shareholders, directors and company officers with violation of prompt shareholder filing regulations.
A timely disclosure of share dealing is a material fact that must be made known to potential investors.
The Form 4 requirement protects new investors in those companies in which the share value is linked to the principals retaining a stake-holding.
Twenty eight late filers received hefty financial penalties and a further six publicly quoted companies were slapped with major fines.
In total they have agreed to settle the charges and cough up $2.6 million in fines.
One 'delinquent' form filer, Ligang Wang, vice president of China Shen Zhou Mining & Resources, is alleged to have failed to file – on time or at all – information about his $1 million share disposal and will face SEC administrative proceedings.
A full list of those named can be retrieved from the SEC newsroom.

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Insider trader loses home and freedom

MATHEW Martoma, ex-SAC Capital Advisors LP portfolio manager, has received a nine year prison sentence plus forfeiture of his $9.3 million Florida home on Monday (8 September).
The disgraced hedge fund manager made more than $275 million for former boss, Steven A. Cohen, by using non public information gleamed from an Alzheimer's clinical drug trial pharmacist.
Defense counsel's plea of mitigation was rejected by U.S. District Judge Paul Gardephe, sitting in New York, who said: "I cannot and will not ignore that the gain is hundreds of millions of dollars more than ever seen in an insider trading prosecution."
Richard Strassberg's claim that his client's 'fragile family circumstances' should be considered was dismissed by District Judge Gardephe who said Martoma had to account for the "enormous" $275 million gain SAC obtained illegally through insider trading. A sentence appeal is pending.
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