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And Reuters reports that Mount Kellett Capital Management, a private equity firm run by former Goldman Sacher Mark McGoldrick (known as 'Goldfinger' because of his earnings power) is said to have raised $2.5bn for a new fund to be invested in opportunities in Asia, especially China.
Zhao Danyang, the hedge fund manager who paid last year's record $2.11m to lunch with Warren Buffett (all for charity), told Bloomberg TV that he owed the 600% return his firm has generated over the last 6 years to the Sage. 'Buffett is my teacher', he said. 'In my heart, I am really thankful to him'.
The New York Times reports that convicted fraudster Bernie Madoff is hoping to be let-off with a 12-year jail sentence when he comes before a judge later this month. Madoff's lawyer, Ira Sorkin, wrote to the judge, pointing out that his client 'is currently 71 years old, and has an approximate life expectancy of 13 years.....A prison term of 12 years - just short of an effective life sentence - will sufficiently address the goals of deterrence, protecting the public, and promoting respect for the law'. Bernie faces a maximum sentence of 150 years.
Finally, The Times reports that billionaire financial Sir Allen Stanford has now returned to Texas under the custody of US Marshals, after being arrested by the FBI last week. Stanford, who (with others) has been accused of engaging in a $7bn Ponzi scheme, will appear at a bail hearing in Houston Thursday.
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