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.
Safra Group denies involvement with Madoff (Fund News)
The FT reports that Banco Safra of São Paulo for several years marketed a fund called Zeus Partners Limited. The fund acted as a feeder fund to Bernard Madoff Securities.
Barclays walks away from Endeavour rescue (Fund News)
Endeavour, the $3bn London hedge fund that lost a quarter of its value in a single day last year, is in the final stages of shutting its flagship fund after Barclays walked away from a planned rescue.