U.S. Hedge Fund Exec Gets Jail Time in US$100 million Mismarking Scheme (InvestmentExecutive.com)
A former hedge fund chief has been sentenced to over four years in jail after being convicted in a US$100 million securities mismarking scheme. The founder and CEO of Premium Point Investments LP, Anilesh Ahuja, was sentenced to 50 months in prison and three years of supervised release after a jury convicted him of various fraud-related offences in connection with a scheme to inflate the net asset value of its funds by more than US$100 million. “PPI fraudulently obtained inflated quotes, including from corrupt brokers, and manipulated its valuation process to inflate the purported value of securities held by the funds,” said the U.S. Department of Justice (DoJ).
Netflix Inc (NFLX) CEO Reed Hastings Sold $17 million of Shares (Guru Focus)
CEO of Netflix Inc., Reed Hastings, sold 54,516 shares of NFLX on 11/25/2019 at an average price of $312.04 a share. The total sale was $17 million. Netflix Inc provides multimedia content through the internet. It provides a subscription based platform for television shows, movies and original series. Netflix Inc has a market cap of $137.26 billion; its shares were traded at around $313.20 with a P/E ratio of 100.06 and P/S ratio of 7.50.
The EVP, Group President-EAME of Hyatt Hotels (NYSE: H) is Selling Shares (Analyst Ratings)
Yesterday, the EVP, Group President-EAME of Hyatt Hotels (H), Peter Fulton, sold shares of H for $928.9K. Based on Hyatt Hotels’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.22 billion and quarterly net profit of $296 million. In comparison, last year the company earned revenue of $1.07 billion and had a net profit of $237 million. The company has a one-year high of $81.57 and a one-year low of $63.45. Currently, Hyatt Hotels has an average volume of 587.29K.
Copart Inc (CPRT) CEO A Jayson Adair Sold $63.5 million of Shares (Guru Focus)
CEO of Copart Inc., A Jayson Adair, sold 702,686 shares of CPRT on 11/26/2019 at an average price of $90.37 a share. The total sale was $63.5 million. Copart Inc provides online auctions and vehicle remarketing services in United States, Canada, United Kingdom and Brazil. The company offers vehicle sellers with services to process and sell vehicles over the internet.
Goldman Sachs to Pay $1 Million for Recordkeeping Violations (HedgeCo.Net)
(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has issued an order filing and simultaneously settling charges against Goldman Sachs & Co. LLC for failing to make and keep certain audio recordings as required under CFTC regulations for swap dealers. The order requires Goldman to pay a $1,000,000 civil monetary penalty and to cease and desist from further violations of Commission regulations, as charged. The order also finds that Goldman’s failure impeded an unrelated investigation conducted by the Division of Enforcement (Division). “Registrants must comply with the Commission’s recordkeeping requirements, as with all other applicable laws,” said CFTC Enforcement Director James McDonald. “When they do not, we are committed to holding them accountable. This action reinforces the critical importance of recordkeeping requirements to the CFTC’s enforcement mission.”
