EW HAVEN, Conn. A former college student who posed as a Turkish heir and persuaded sophisticated investors to pour millions into a nonexistent hedge fund was released on bond yesterday.
Hakan Yalincak’s release on $1.1 million bond until his Feb. 14 sentencing followed three unsuccessful bond requests. Yalincak, 22, said he asked again because his mother, who also pleaded guilty in the scheme, is being treated for what appears to be cancer.
“This has been a learning experience,†said Yalincak, who pleaded guilty in June to bank and wire fraud and faces up to 50 years in prison.
