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Stories of Interest
- Barclays and Deutsche Bank to Lag U.S. Trading Peers
- NY AG Schneiderman Seeks to Close Loophole That Could Let Trump Pardons Block State Charges
- 'Fearless Girl' is Moving to NYSE After Year Staring Down 'Charging Bull'
- What's In Your Wallet - American Express Shares Soar After Earnings Release
- Deutsche Bank's Executive Departures Continue Following Change in CEO
- Reflections of an Economist Commissioner (SEC's Piwowar)
- Billionaire HF Manager and The Fed Chair Runner-Up are Investing in New Cryptocurrency
- Court Finds 2 Brokers Liable for Fraud Involving Mortgage-Backed Securities
- One FINRA: An Organization’s Commitment to Diversity and Inclusion
- 2018 GASB Accounting Support Fee to Fund the Governmental Accounting Standards Board
- Barclays Eyes Move Into Cryptocurrency Trading
- Goldman Breaks From Wall Street Pack with Bond-Trading Boom
- Janney Montgomery Scott CEO Joins FINRA Board of Governors
- SEC Encourages Investors to Do Background Checks on Investor.gov
- The Martin Act: Wall Street Titan Takes Aim at Law That Tripped Him Up
- Bank of America’s Cost-Cutting Drive Pushes Profit to Record
- Larry Fink: Wall Street’s $6 Trillion Man Finally Worth $1Bn
- Activist Investor Wants Barclays Investment Banking Overhaul (Video)
- House Passes Bill to Streamline 'Volcker Rule'
- CEO Charged with Penny Stock Fraud - SEC
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NEWSLETTERS & ALERTS
NY Fund Manager Gets 3 Years for $23Mn Fraud
Haena Park, who established Phaetra Capital Management LP and Argenta Group LLC, then fleeced friends, family and former Harvard classmates out of $23 million, was sentenced to 3 years in prison. Prosecutors had sought a 9-year sentence. She had pleaded guilty in January.
Ms. Park, 41, who graduated from Harvard in 1998 with a degree in psychology, touted herself as an accomplished forex trader who had generated annual returns of as high as 49%. In fact, she lost $19.5 million of the $20 million she traded, mostly in highly leveraged futures and forex transactions. She managed to cover up the losses – during the 6 years of her fraud - by creating fictitious account statements.