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Category Archives: Hedge Fund Fraud

Hollywood Film Scheme Results in Unhappy Ending for Investors

New York (Hedgeco.Net) – The owners of Gigapix Studios told investors they had a sure thing: They were going to make an animated version of the Wizard of Oz called OZ3D, and those who got in on the ground floor—and […]

Hedge Fund Manager Sentenced To Two Years Behind Bars

New York (HedgeCo.Net) – Hedge fund manager and adviser Berton Hochfeld was sentenced to two years in prison for defrauding investors out of more than $1 million. Hochfeld pled guilty in January to securities fraud and wires fraud in connection […]

Rep. Mike McKell: Utah Is “A Hot Bed For Financial Fraud”

New York (HedgeCo.Net) – A White Collar Crime Registry has been included in the Utah Code of Criminal Procedure allowing the public to check up on traders, hedge fund managers, investment advisors and the like, the NYT reports. “Utah is […]

Hedge Fund Crime Ring Uncovered, A Dozen Criminals Brought to Justice

New York (HedgeCo.Net) – Nearly a dozen fraudsters who conspired to operate the $40 million Black Diamond hedge fund Ponzi scheme will be spending plenty of time behind bars after a joint effort by the FBI, the Internal Revenue Service, […]

Hedge Fund Manager Sentenced To 5 Years For Scamming Veterans, Retirees, Hurricane Katrina Victims

New York (HedgeCo.Net) – A Louisiana hedge fund manager has been sentenced to sixty months’ imprisonment as a result of a mail fraud scheme in which he defrauded investors out of millions of dollars, the DOJ reports. Zachary Holdman was […]

“Werewolf” Hedge Fund Manager Charged After Claiming To Be Dead To Avoid Investors

New York (HedgeCo.Net) – A New York “hedge fund manager” has been charged with stealing money from his investors by the SEC. USA today reports that Moazzam “Mark” Malik, originally from Pakistan, overdid it a bit with outrageous claims, saying […]

Hedge Fund Fraud: $10 Billion Recovered For Madoff Victims

New York (HedgeCo.net) – Approximately $355 million is being released to victims of the Madoff hedge fund Ponzi scheme, the Securities Investor Protection Corporation (SIPC) announced today. A separate settlement involving $497 million with “feeder funds” Herald Fund and Primeo Fund, will bring […]

Conneticut Hedge Fund Adviser Sentenced To 13 Years Behind Bars

New York (HedgeCp.Net) – Venezuelan-American Francisco “Pancho” Illarramendi has been sentenced in Bridgeport, Conneticut to 156 months of imprisonment, followed by three years of supervised release, ABC reports. Illarramendi was convicted of orchestrating a Ponzi scheme that defrauded investors and […]

Connecticut Hedge Fund Controller Admits To Embezzling $9 Million

New York (HedgeCo.Net) – Lawrence Herzing, the the former controller of hedge fund Contrarian Capital Management has pleaded guilty to one count of wire fraud stemming from his theft of more than $9 million from Contrarian, Reuters reports. Contrarian Capital […]

Hedge Fund Manager Gets 21 Years For Black Diamond Fraud, 10 Conspirators Get Jail Time

New York (HedgeCo.Net) – Ohio-based hedge fund manager Jonathan D. Davey has been sentenced to 21 years in prison for his role in Ponzi scheme that defrauded victims of more than $40 million, the FBI reports. All federal sentences are […]

Ohio Hedge Fund Manager Accused of Defrauding Investors of $5.5 Million

New York (HedgeCo.Net) – An eight-count federal indictment has been returned charging Geoffrey W. Nehrenz for his role operating a hedge fund Ponzi scheme in which 19 investors were defrauded out of approximately $5.5 million, law enforcement officials said. Between […]

Weavering Hedge Fund Boss Gets 13 Years In Jail

New York (HedgeCo.Net) – After a long and drawn out trial regarding the collapse of the UK’s largest hedge fund, Weavering, which went down in 2009 with more than $530m of losses, founder Magnus Peterson has been sentenced to 13 years […]

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