WEST PALM BEACH, FL (HEDGECO.NET) – Donald O�Neill, a fugitive hedge fund manager was captured in Rome, Italy; O�Neill is being sought in connection with defrauding unsuspecting investors through hisfraudulent currency hedge fund operations. The FBI working in conjunction with officials of the Commodities and Exchange Commission made a breakthrough in the case.
O�Neill operated a Ponzi scheme which solicited and collected over US$13 million from 38 unsuspecting hedge fund investors, and diverting such assets into his personal use, purchasing luxury homes, and expensive sports cars. He was frequently seen at high roller tables at Las Vegas casinos, squandering investor assets. According to reports, O�Neill squandered about US$10million of such assets for his personal needs.
He was indicted by a federal grand jury and charged with 40 violations. He was also charged along with some of his family and friends according to published reports. Details of the charges allege that he spent US$ 3 million on his personal home; about $900,000 on airplane charters, and gambled away another $800,000 in Las Vegas casinos.
O�Neill disappeared when indictments against him were handed down, but was captured in Rome to face justice. He faces over 15 years on each count if convicted, along with millions of dollars in fines. Some of O�Neill�s fraudulent hedge funds include, NDT Fund LLC, ORCA Mojave A. LLC, ORCA Capital Fund A. LLC, and a host of others.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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