CSSF attacks UBS over role in Madoff fund (Fund News)
UBS was accused of ??serious failure? by the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg??s financial regulator, over its custodianship of a $1.4bn fund that invested with Bernard Madoff.
Hedge fund managers of WG Trading Company, Westridge Capital Management, North Hills Management LLC and Westgate Capital Management LLC have been arrested in the US yesterday and charged with securities fraud.
Possible $8bn fraud at Stanford International Bank (Fund News)
Sir Allen Stanford, the billionaire Texan, was charged by US securities regulators on Tuesday over a ??massive? investment fraud through his Antigua-based offshore bank.