Hedge fund manager from Colma pleads guilty in fraud
Wednesday, November 4, 2009 : PermalinkThe Oakland Tribune – A hedge fund manager from Colma pleaded guilty Tuesday to running a scam that cost investors at least $8.3 million over nearly a decade, federal prosecutors said.
Alexander Trabulse, 62, who managed San Francisco-based hedge funds known as the Fahey Hedge Fund and Fahey Financial Group Inc., sent phony account statements that made the investment look more successful that it actually was, U.S. Attorney Joseph Russoniello said. Trabulse told investors their $17.6 million in investments were worth nearly $50 million when the true amount was tens of millions of dollars less.
