MIT/Harvard hedge fund ))
http://www.bloomberg.com/news/2014-08-12/ex-mit-professor-son-to-plead-guilty-in-hedge-fund-scam.html
профессор MIT с сыной MBA Harvard сделали quantitative фонд->пирамиду )) на 500mioUSD, себе взяли 16 за управление.
A former Massachusetts Institute of Technology professor and his son agreed to plead guilty to running a $500 million hedge-fund scam that was uncovered by investigators probing Bernard Madoff’s Ponzi scheme.
Gabriel Bitran, who was a professor and associate dean at MIT’s Sloan School of Management, and his son, Marco, wooed investors to GMB Capital Management LLC with fake claims of success in managing family and friends’ accounts using a trading model based on the father’s research
The men, who raised more than $500 million from 2005 to 2011, meanwhile put money into “funds of funds,” which rely on investments by other hedge funds, and fed money to Madoff’s firm and Madoff feeder funds, according to prosecutors.
The Bitrans’ funds suffered losses of more than $140 million. The men paid themselves as much as $16 million in management fees over the life of the businesses and recovered $12 million of their own investments when the funds were doing poorly
Gabriel Bitran, 69, was a professor at MIT from 1978 to 2013, where he focused on research and consulting in the field of “optimal pricing,” Marco Bitran, 39, holds a bachelor’s degree from MIT and a master’s degree in business administration from Harvard Business School.
профессор MIT с сыной MBA Harvard сделали quantitative фонд->пирамиду )) на 500mioUSD, себе взяли 16 за управление.
A former Massachusetts Institute of Technology professor and his son agreed to plead guilty to running a $500 million hedge-fund scam that was uncovered by investigators probing Bernard Madoff’s Ponzi scheme.
Gabriel Bitran, who was a professor and associate dean at MIT’s Sloan School of Management, and his son, Marco, wooed investors to GMB Capital Management LLC with fake claims of success in managing family and friends’ accounts using a trading model based on the father’s research
The men, who raised more than $500 million from 2005 to 2011, meanwhile put money into “funds of funds,” which rely on investments by other hedge funds, and fed money to Madoff’s firm and Madoff feeder funds, according to prosecutors.
The Bitrans’ funds suffered losses of more than $140 million. The men paid themselves as much as $16 million in management fees over the life of the businesses and recovered $12 million of their own investments when the funds were doing poorly
Gabriel Bitran, 69, was a professor at MIT from 1978 to 2013, where he focused on research and consulting in the field of “optimal pricing,” Marco Bitran, 39, holds a bachelor’s degree from MIT and a master’s degree in business administration from Harvard Business School.