{"id":6032,"date":"2016-09-13T18:55:21","date_gmt":"2016-09-13T23:55:21","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1077"},"modified":"2016-09-13T18:55:21","modified_gmt":"2016-09-13T23:55:21","slug":"securities-fraud-news-another-hedge-fund-shutters-telecom-company-pay-1-25m-disclosure-failures-sec-orders-stock-trader-pay-1-5m-fraud-charges","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-news-another-hedge-fund-shutters-telecom-company-pay-1-25m-disclosure-failures-sec-orders-stock-trader-pay-1-5m-fraud-charges\/","title":{"rendered":"Securities Fraud News: Another Hedge Fund Shutters, Telecom Company to Pay $1.25M for Disclosure Failures, and SEC Orders Stock Trader to Pay $1.5M Over Fraud Charges \u00a0"},"content":{"rendered":"<blockquote>\n<div class=\"WordSection1\">\n<div class=\"\"><b class=\"\"><span class=\"\">Former SAC Trader To Close Down Hedge Fund In The Wake of Losses<\/span><\/b><\/div>\n<div class=\"\"><span class=\"\">Andrew Bazarian will close down his\u00a0<\/span><span class=\"\">Pinyin Capital Management Hong Kong Ltd.\u2019s hedge fund in the wake of massive losses sustained by the fund, a lack of investor interest, and the exodus of Blue Pool Capital, its largest backer. Bazarian, a former SAC trader, started the fund in 2014 with Blue Pool\u2019s $100M pledge. He left SAC to start the pan-Asian portfolio before the firm pleaded guilty to charges of insider trading.<\/span><\/div>\n<div class=\"\"><span class=\"\">\u00a0<\/span><\/div>\n<div class=\"\"><span class=\"\">Bazarian\u2019s hedge fund is not the only one to shutter because of poor returns and investors leaving the industry. In July alone, investors throughout the world withdrew about $25.2B from hedge funds.\u00a0 According to <em>Bloomberg,<\/em> others that have closed down hedge funds in Asia AMP Capital, Lazard Asset Management, and Pine River Capital Management.\u00a0<\/span><\/div>\n<div class=\"\"><\/div>\n<div class=\"\"><span class=\"\">\u00a0<\/span><\/div>\n<div class=\"\"><b class=\"\"><span class=\"\">Telecommunications Company to Pay $1.25M for Not Disclosing Credit Risks\u00a0<\/span><\/b><\/div>\n<div class=\"\"><span class=\"\">The Securities and Exchange Commission said that Portugal Telecom SGPS S.A. will pay a $1.25M penalty for not properly disclosing the degree of credit risk involved in investments in debt instruments issued by Grupo Espirito Santo\u2019s companies. By settling, Portugal Telecom is not denying or admitting to the findings. It has, however, consented to the regulator\u2019s cease-and-desist order.<\/span><\/div>\n<div class=\"\"><\/div>\n<\/div>\n<\/blockquote>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-news-another-hedge-fund-shutters-telecom-company-pay-1-25m-disclosure-failures-sec-orders-stock-trader-pay-1-5m-fraud-charges\/#more-6032\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former SAC Trader To Close Down Hedge Fund In The Wake of Losses Andrew Bazarian will close down his\u00a0Pinyin Capital Management Hong Kong Ltd.\u2019s hedge fund in the wake of massive losses sustained by the fund, a lack of investor interest, and the exodus of Blue Pool Capital, its largest backer. Bazarian, a former SAC [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3748],"tags":[],"class_list":["post-6032","post","type-post","status-publish","format-standard","hentry","category-hedge-funds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Securities Fraud News: Another Hedge Fund Shutters, Telecom Company to Pay $1.25M for Disclosure Failures, and SEC Orders Stock Trader to Pay $1.5M Over Fraud Charges \u00a0 &#8212; Investor Lawyers Blog &#8212; September 13, 2016<\/title>\n<meta name=\"description\" content=\"Former SAC Trader To Close Down Hedge Fund In The Wake of Losses Andrew Bazarian will close down his\u00a0Pinyin Capital Management Hong Kong Ltd.\u2019s hedge fund &#8212; September 13, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-news-another-hedge-fund-shutters-telecom-company-pay-1-25m-disclosure-failures-sec-orders-stock-trader-pay-1-5m-fraud-charges\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Securities Fraud News: Another Hedge Fund Shutters, Telecom Company to Pay $1.25M for Disclosure Failures, and SEC Orders Stock Trader to Pay $1.5M Over Fraud Charges \u00a0 &#8212; 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