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04-12-2008, 08:24 AM
| | |  Headstart Fund charged with bamboozling Potter tricks
The manager of a London-based hedge fund, Headstart Advisers, is facing legal action from the Securities and Exchange Commission (SEC), the U.S. financial regulator.
Najv Nasser is charged with illicitly trading shares in U.S. mutual funds. The SEC also alleges that subsidiaries with completely unrelated names were set up by the firm's employees in an attempt to conceal their indentities and to trick the U.S. mutual funds into accepting their trades. They claim that such subsidiaries were set up with names such as "Voldemort [sic] Ltd", as well as other less inventive names.
It is claimed that the fund manager has made over £100m by breaching market timing regulations and late trading between September of 1998 and September of 2003.
Representatives of the Headstart Fund have denied the charges.
Source: The Telegraph.co.uk
Confused?  Click here! | |
04-12-2008, 09:30 AM
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#2 (permalink)
| | Chizpurfle
Join Date: Jan 2008 Location: Forks, With Edward.
Posts: 687
Hogwarts RPG Name:
Adalia Longbottom.
Third
Ministry RPG Name:
Harmony Black.
Magical Law Enforcement |
O_o
I don't get it. xD
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04-12-2008, 09:58 AM
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#3 (permalink)
|  Sneaky LuciusBowtruckle
Join Date: May 2007 Location: With the other Death
Posts: 256
Hogwarts RPG Name:
Hannah Wheatley
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Nither do I
__________________  *sighs*
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04-12-2008, 10:08 AM
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#4 (permalink)
| | Kneazle
Join Date: Oct 2006 Location: hiding under a hat..
Posts: 3,050
| Tonks' Gum Chewer Twins' Extra Ear
Some guys was trading shares when he wasn't allowed to. I think he says that he set up a business and called it "Voldemort LTD" so that it would be legal. But he's probably lying.
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04-12-2008, 10:31 AM
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#5 (permalink)
|  Madam Malkin's Mod
Newbie Mod
Quill EditorBasilisk
Join Date: Jun 2004 Location: GMT +8
Posts: 48,645
Hogwarts RPG Name:
Byron LeBlaireau
Fifth Year
Ministry RPG Name:
Nikolai Vannacutt
| Nabs!Ama | | The Happy Hufflepuff
It's like having multiple accounts on SS so that you can get more points in the RP, or something like that. It's against the rules, and you can get banned for it.
That's what's happening to Headstart Fund. Think of them with the offending member with 5 accounts, all in one house so that they can all attend class at one time and ALL get points at one time.
Think of the SEC as the SS staff who catch the member and ban them for a certain amount of time, while also getting rid of the other accounts.
That's the best way for me to explain it in SS terms. lol hope you understand.
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04-12-2008, 11:52 AM
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#6 (permalink)
|  Portuguese ModeratorThestral
Join Date: Feb 2004 Location: Neverland
Posts: 39,664
Hogwarts RPG Name:
Margaret Jacqueline Atkinson Morris
Fifth Year | Potter’s Princess A+ FangGirl
Oooh gotcha.
*pokes the dude hard*
__________________ I gotta go back to the muggle world,
they're gonna try and tell me this wasn't, that none of this happened,
but you know what? It was real. It did happen.
We spent time here. We made friends here. That's a part of us.
Cause Hogwarts is bigger than any of us, of any of it's founders,
and it's going to be around long after we're gone.
Maybe we'll see our kids come here one day.
That's the thing about Hogwarts.
No matter how long you're away from it, there's always a way back. | |
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04-12-2008, 01:15 PM
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#7 (permalink)
| | Thestral
Join Date: Nov 2006 Location: District 7
Posts: 35,500
Hogwarts RPG Name:
Marshall Davies
Third Year  x8
| Beavers Are Adorable | I Am Unicorn | Mrs. Shia LaBeouf | T-I-Double GUH-ER | White Chocolate
Tut, tut. Such a stupid move to make.  | |
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04-12-2008, 01:25 PM
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#8 (permalink)
| | Crup
Join Date: Sep 2007
Posts: 2,032
| Chaos Creator Twins' Conscience
Wow. Shouldn't have done that now.
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04-12-2008, 01:42 PM
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#9 (permalink)
| | Doxy
Join Date: Feb 2008 Location: Canada
Posts: 409
Hogwarts RPG Name:
Gwenavere
First Year |
Wow,that's insane!!!!!
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04-12-2008, 03:44 PM
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#10 (permalink)
| | Plimpy
Join Date: Mar 2008 Location: In London with Matt
Posts: 1,123
Hogwarts RPG Name:
Heidi Sparks
Second Year | Lion Pride
 Very well put Nabiya! Shame on them for using the names as well.
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04-12-2008, 05:01 PM
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#11 (permalink)
| | Chizpurfle
Join Date: Jan 2008 Location: Forks, With Edward.
Posts: 687
Hogwarts RPG Name:
Adalia Longbottom.
Third
Ministry RPG Name:
Harmony Black.
Magical Law Enforcement |
Quote:
Originally Posted by Nabiya  It's like having multiple accounts on SS so that you can get more points in the RP, or something like that. It's against the rules, and you can get banned for it.
That's what's happening to Headstart Fund. Think of them with the offending member with 5 accounts, all in one house so that they can all attend class at one time and ALL get points at one time.
Think of the SEC as the SS staff who catch the member and ban them for a certain amount of time, while also getting rid of the other accounts.
That's the best way for me to explain it in SS terms. lol hope you understand. Thanks. I think I can get it now. :]
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04-12-2008, 05:26 PM
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#12 (permalink)
| | Griffin
Join Date: Jun 2007 Location: in the TARDIS
Posts: 9,216
Hogwarts RPG Name:
Jack Harkness Jones, Jr.
Seventh Year x11
Ministry RPG Name:
Agatha Rose Cavendish
International Cooperation | SS Senile Senior
Quote:
Originally Posted by Nabiya It's like having multiple accounts on SS so that you can get more points in the RP, or something like that. It's against the rules, and you can get banned for it.
That's what's happening to Headstart Fund. Think of them with the offending member with 5 accounts, all in one house so that they can all attend class at one time and ALL get points at one time.
Think of the SEC as the SS staff who catch the member and ban them for a certain amount of time, while also getting rid of the other accounts.
That's the best way for me to explain it in SS terms. lol hope you understand. On top of that, they could sell to each other, artificially raising the price of the stock so that real investors ar paying much more than it's really worth and then reaping a windfall profit. When they sell off all their stock the price plummets and the real investors lose.
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04-12-2008, 06:07 PM
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#13 (permalink)
|  MoM RPG Admin
Minister of Magic
Head Fan Fiction Mod
Leaky Cauldron Mod
 Occamy
Join Date: Nov 2007 Location: Slytherin Dungeons
Posts: 28,013
Hogwarts RPG Name:
Sierra Greingoth
Fifth Year
 x1
Ministry RPG Name:
Alexander Greingoth II
Minister's Office
Diagon Alley Employee:
Veronica Lafay
Dark Witch/KA Assistant | Hiss!Roar | Hermione's Double | | Little Snakette | A ♥'s H
The nerve of some people...
__________________
Think you're first class? I think it's time you got on OUR level, Level One.
The Minister of Magic will be waiting. ;] | 
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04-12-2008, 09:38 PM
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#14 (permalink)
| | Leprechaun
Join Date: Aug 2007 Location: Cloud 9,000
Posts: 19,577
Hogwarts RPG Name:
Phineas Fischer
Fourth Year | *snortles* MAMA!Shroom
....Bwahahahahaaaa Caught in the act! Crrrrime doesn't pay  Quote:
Originally Posted by Nabiya It's like having multiple accounts on SS so that you can get more points in the RP, or something like that. It's against the rules, and you can get banned for it.
That's what's happening to Headstart Fund. Think of them with the offending member with 5 accounts, all in one house so that they can all attend class at one time and ALL get points at one time.
Think of the SEC as the SS staff who catch the member and ban them for a certain amount of time, while also getting rid of the other accounts.
That's the best way for me to explain it in SS terms. lol hope you understand. Wonderful explanation, Nabs! *applauds* 
__________________ UNDER CONSTRUCTION YO. | |
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04-13-2008, 12:33 AM
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#15 (permalink)
| | Puffskein
Join Date: Feb 2008 Location: Philadelphia, PA
Posts: 174
Hogwarts RPG Name:
Lily Silvanus
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What a stupid idea
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04-13-2008, 01:05 AM
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#16 (permalink)
| | Bicorn
Join Date: Jul 2006 Location: under Tom's bed.
Posts: 1,722
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They used a name as Voldemort. Lol.
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04-13-2008, 04:11 AM
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#17 (permalink)
| | Clabbert
Join Date: Sep 2007 Location: San Antonio, TX
Posts: 2,655
Hogwarts RPG Name:
Elizabeth Snape
Graduated
Ministry RPG Name:
Department of mysteries planet room
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how could he do something like that? theres always two sides to every story.
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Half Blood Prince | |
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04-13-2008, 11:07 AM
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#18 (permalink)
| | Giant Squid
Join Date: Feb 2006 Location: In a pineapple. <3
Posts: 18,277
Hogwarts RPG Name:
Emerson Gray.
Fourth Year | G1GGL3R! *giggles* My GarBear
Lol, I don't get this either.  | |
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04-13-2008, 11:38 AM
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#19 (permalink)
| George's Ear Ghoul
Join Date: Jun 2007 Location: Southampton/England
Posts: 562
Hogwarts RPG Name:
Narisa Carter
First Year |
Okay, call me thick, but I've read all the explanations and I STILL don't get it o.O sorry.
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04-13-2008, 04:26 PM
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#20 (permalink)
|  DAFC VIPChimaera
Join Date: Sep 2006
Posts: 7,166
Hogwarts RPG Name:
Atticus Cornridge
Second Year  x1
| ll Achmed's 2nd Keeper ll Team Jacob l l Otaku ll
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04-13-2008, 04:33 PM
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#21 (permalink)
| | Ashwinder
Join Date: Mar 2008 Location: Denmark..
Posts: 1,611
Hogwarts RPG Name:
Ashley Noir
Fifth Year |
Madness! O.o | |
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04-13-2008, 05:25 PM
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#22 (permalink)
| | Jarvey
Join Date: Dec 2007 Location: in the deep blue sea
Posts: 148
Fourth |
cheaters never win!!!
how stupid can you get?
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04-13-2008, 07:43 PM
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#23 (permalink)
| | Vampire
Join Date: Nov 2005 Location: Maryland
Posts: 11,238
Ministry RPG Name:
Jermey Jackston
| Book Club Babe
confused much
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04-13-2008, 08:14 PM
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#24 (permalink)
| LPFC Pressie Runespoor
Join Date: Dec 2005 Location: Wangdoodleland.
Posts: 31,265
Hogwarts RPG Name:
Jude Alexander Maxwell
Graduated
Ministry RPG Name:
Aricca Jade "AJ" Silverstone
Magical Creatures | Russian Dancing Snake-Twin | Jam Pony Rider | Has Snuffed It!
and they thought a name like Voldemort LTD wouldn't get caught and inspected???
wow. nerds. stupidest nerds ever. haha. glad they got caught.
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04-14-2008, 03:18 PM
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#25 (permalink)
| Twins: U No Poo Ramora
Join Date: Mar 2008 Location: Neverland...
Posts: 398
Hogwarts RPG Name:
Peter Plumb Jnr
First Year
Ministry RPG Name:
Peter Plumb Snr
Department of Mysteries |
Good idea if you can get away with it i suppose... :-/
But did he really think no-one would notice??? | |
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Voldemort for evil 
