(FINalternatives) San Francisco hedge fund manager Nicholas Mitsakos has been sentenced to 2 1/2 years in prison by a New York district court judge after pleading guilty in May to one count of conspiracy to commit securities and wire fraud. The sentencing comes more than a year after Mitsakos was first arrested in August 2016. He was accused of fraudulently soliciting investments into his hedge fund, Matrix Capital Markets, by distributing marketing materials claiming more than $60 million in AUM and annual returns ranging from 20% to 66% between 2012 and 2015.
San Francisco Fund Manager Sentenced to 2 1/2 Years for Fraud Conspiracy
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