All posts tagged: funds

US Jury Finds Investor Andrew Left Guilty of Securities Fraud

US Jury Finds Investor Andrew Left Guilty of Securities Fraud

Published by Sam Flores

June 1 (Reuters) – A U.S. jury found prominent investor Andrew Left ⁠guilty ⁠of securities fraud on Monday, the Justice ⁠Department said, in a blow to a divisive cohort of short sellers who have for years goaded ​public companies in the U.S. and overseas with allegations of fraud and mismanagement. U.S. authorities charged Left in July 2024, alleging he had manipulated the stock ‌market and defrauded investors with misleading claims ‌about his positions in multiple companies’ shares, including Nvidia and Tesla, making at least $20 million in the process. Left, who runs Citron Research, denied the ⁠allegations and had ⁠pleaded not guilty. After two days of deliberations, however, the jury found him guilty of engaging ​in a securities fraud scheme and 12 of 16 other counts related to specific trades. It acquitted him of four other counts, a Justice Department spokesperson said, adding Left will be sentenced on August 31.  An attorney for Left did not immediately answer a call seeking comment or a subsequent text message asking ​if Left would seek to appeal. “Not …

Hawthorne creditors seek probe into racing funds amid bankruptcy dispute case

Hawthorne creditors seek probe into racing funds amid bankruptcy dispute case

Published by skeptic

The owners of Hawthorne Race Course and the official committee representing unsecured creditors are asking a bankruptcy judge to authorize an investigation into Illinois Department of Agriculture Director Jerry Costello II over decisions involving horse racing funds. A motion filed May 20 in the Chapter 11 cases of Hawthorne Race Course and related entities seeks permission to examine Costello, the Illinois Department of Agriculture, Fairmount Park Casino & Racing, and lobbyist John P. Costello, who is Jerry Costello’s brother. Questions over allocation of Hawthorne racing funds According to the filing, Hawthorne traditionally received between 55% and 60% of distributions from the Illinois Thoroughbred Breeders Fund because it staged substantially more races than Fairmount Park. The debtors say that changed after the bankruptcy cases began in February. “Following the Petition Date, this allocation pattern shifted. Despite no material operational changes, Fairmount Park received disproportionately large allocations while the Debtors’ share was significantly reduced. Approximately $300,000 remains undistributed. The Movants have identified troubling connections.” According to the motion, “this allocation pattern shifted” and “Fairmount Park received disproportionately …

EU to release billions in frozen funds for Hungary amid Magyar reforms | European Union News

EU to release billions in frozen funds for Hungary amid Magyar reforms | European Union News

Published by Sam Flores

PM Peter Magyar called ​the agreement to unlock funds frozen under former leader Orban a ‘historic’ breakthrough. Published On 29 May 202629 May 2026 The European Union has announced it will unlock 16.4 billion euros ($19bn) for Hungary in a major win for the newly elected Prime Minister, Peter Magyar. The President of the European Commission, Ursula von der Leyen, said on Friday that the bloc was ready to release the funds that were frozen when Viktor Orban was in power. Recommended Stories list of 3 itemsend of list Under Orban’s rule, the EU froze about 18 billion euros ($21bn) in funds earmarked for Budapest due to democratic backsliding, corruption and the treatment of LGBTQ issues. Von der Leyen told reporters that the EU would unlock 10 billion euros ($11.6 billion) from the recovery fund, called Next Generation EU, and 4.2 billion euros ($4.8bn) in cohesion funds, with a further 2.2 billion euros ($2.5bn) as the reforms are completed. “That is quite a sum, but … the Hungarian people deserve it. Again, many, many thanks …

Magyar to visit Brussels next week to discuss unfreezing funds for Hungary – POLITICO

Magyar to visit Brussels next week to discuss unfreezing funds for Hungary – POLITICO

Published by Sam Flores

The money had been withheld over Budapest’s breaches of EU law under Viktor Orbán, who had governed the country for 16 consecutive years until losing last month’s general election. The €10.4 billion is part of a post-pandemic recovery fund and only a fraction of the money Hungary is seeking to unfreeze. But with a looming deadline, securing full access to that tranche has become the new government’s top priority. Magyar’s incoming administration has until Aug. 31 to formally request the money, while the Commission in Brussels has a deadline of Dec. 31 to make the payments. The country’s foreign minister stressed that Hungary was already working on a set of so-called “super milestones” and reforms that were needed to get access to the money. “Those are reinstating rule of law criteria. And that’s ensuring that the money is spent transparently, absolutely free of corruption,” she said. “And it’s important to emphasize here that that was our electoral mandate. We were running on a platform. … So these super milestones are 100 percent coinciding with what …

In pitch to voters, Susan Collins touts funds for Maine, Senate seniority : NPR

In pitch to voters, Susan Collins touts funds for Maine, Senate seniority : NPR

Published by Sam Flores

Campaign signs sit next to a road in Rockport, Maine. Graham Platner is expected to be the Democratic nominee and would face off against incumbent Republican Sen. Susan Collins in the general election. Joe Raedle/Getty Images hide caption toggle caption Joe Raedle/Getty Images The outcome of a pivotal Senate race in Maine could hinge on whether voters value Republican Sen. Susan Collins‘ clout and ability to secure federal dollars over Democratic insurgent Graham Platner’s call to upend a political system he says is rigged against working-class Americans. Platner’s call for a political revolution has been a centerpiece of a barnstorming campaign that’s already pushed his Democratic rival, Gov. Janet Mills, out of the race. As the contest pivots to the November election, Collins is using old school pork barrel politics to win over voters who may be ambivalent about reelecting her to a sixth term. It’s one of several sharp contrasts in a contest that could determine whether Republicans can maintain control of the Senate or if Democrats’ difficult path to a majority will be …

Americans can now use healthcare funds to buy e-bikes at a huge discount

Americans can now use healthcare funds to buy e-bikes at a huge discount

Published by skeptic

For many Americans, the idea of buying an electric bike with healthcare funds probably sounds somewhere between confusing and too good to be true. But increasingly, that’s becoming a real option. And believe it or not, it may be easier than you think. For example, Austin-based e-bike company MOD BIKES announced this week that eligible customers can now use HSA and FSA funds toward qualifying Class 1 electric bikes, potentially saving up to 30% by purchasing with pre-tax healthcare dollars instead of post-tax income.   Advertisement – scroll for more content And while more e-bike companies like MOD Bikes are helping riders navigate this process, the announcement highlights a broader shift in how electric bikes are increasingly viewed: beyond mere transportation or recreational devices, and now as legitimate wellness and mobility tools. For anyone unfamiliar with the alphabet soup of healthcare acronyms, HSA stands for Health Savings Account, while FSA means Flexible Spending Account. Both allow Americans to set aside pre-tax money for qualified medical and wellness expenses. Traditionally, people think of using these accounts …

EU Commission eyes major restructure of departments that handle funds – POLITICO

EU Commission eyes major restructure of departments that handle funds – POLITICO

Published by Sam Flores

One Commission official described the process as part of von der Leyen’s “absolute centralization” drive. However, another official said it was an extension of the Brussels’ plans to change how the long-term budget is distributed, with spending programs merged into two main funds. The officials said they believe the plan is to have a single centralized service manage EU funds. One senior official said the model is the recovery fund that was set up after Covid (handled by the Directorate-General for Structural Reform Support): with national governments submitting spending plans, cash disbursed based on hitting milestones, and centralized oversight. “If everything moves to this system, it’s logical to create a service that does exactly that,” the official said of plans for a future DG INVEST. Commission Executive Vice President Raffaele Fitto last week publicly hinted at the restructuring plans, saying: “Inside DG REGIO we are reflecting on the opportunity and possibility of creating a more efficient DG and identifying the right model.” The restructuring process is advancing. On the Commission intranet, seen by Playbook, a dedicated “workstream” has …

Jane Street Slashes Bitcoin ETF Holdings, Adds Ether Funds In Q1 2026

Jane Street Slashes Bitcoin ETF Holdings, Adds Ether Funds In Q1 2026

Published by Jenni Sidey

Authored by Helen Partz via CoinTelegraph.com, Wall Street market maker Jane Street reduced its exposure to Bitcoin exchange-traded funds (ETFs) in the first quarter of 2026 while increasing positions in Ether funds. Jane Street cut major Bitcoin ETF holdings in Q1 2026, including BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC), according to a 13F filing published Tuesday. IBIT holdings fell about 71% from Q4 2025 to roughly 5.9 million shares valued at about $225 million, while FBTC dropped about 60% to around 2 million shares worth roughly $115 million. At the same time, Jane Street increased its exposure to Ether (ETH) ETFs, nearly doubling its position in BlackRock’s iShares Ethereum Trust (ETHA) and sharply raising its stake in Fidelity Ethereum Fund (FETH), adding about $82 million combined across the two products over the quarter. The move comes amid early signs of institutional Ether ETF buying in early 2026, including increased exposure reported at Wells Fargo. The filing points to a reshuffling of Jane Street’s reportable crypto-linked holdings at quarter-end, though 13F disclosures do not show …

Pennsylvania bank manager imprisoned after stealing funds to support gambling habit

Pennsylvania bank manager imprisoned after stealing funds to support gambling habit

Published by skeptic

Federal prosecutors say a former Pennsylvania bank manager stole more than $214,000 from a Citizens Bank branch and spent most of the money feeding a gambling habit, a scheme that has now landed him in federal prison. Jonathan Lim, 42, of Wallingford, was sentenced this week to 18 months behind bars followed by five years of supervised release after pleading guilty to bank fraud and bank embezzlement charges. Prosecutors said Lim took approximately $214,155 while serving as branch manager of the Citizens Bank location on West Lancaster Avenue in Downingtown. Delco Man Sentenced to 18 Months in Prison for Stealing More Than $214,000 From the Bank Where He Worked @FBIPhiladelphia https://t.co/YkLUxdmf0f — U.S. Attorney EDPA (@USAO_EDPA) May 6, 2026 Court records filed May 6 and seen by ReadWrite show U.S. District Judge Michael M. Baylson imposed concurrent 18-month prison terms on both counts. Lim was also ordered to repay Citizens Bank the full amount investigators said was stolen. Authorities said Lim worked at the Citizens Bank “Thorndale branch” from June through November 2019. Along with …