Spitzer Nets Biggest Mutual Fund Timing Fish Yet
Wednesday, January 11, 2006 - 8:40 am
The 51-year-old head of Las Vegas-based Security Brokerage is the latest loser in Eliot Spitzers war on mutual find timing. Daniel Calugar agreed to fork over $153 million of his reported $175 million in profits from the trading strategy. We’re no quants, but doesn’t that still leave him up $22 million? This payout comes on the heels of a $72 million civil settlement Calugar had to pony up in a civil suit a few years ago. Sounds like quite a guy.
Equity Trading May Climb 15% [Bloomberg]
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