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Tuesday, 24 January 2017
Last updated 5 hours ago
Jul 21 2010 | 11:22am ET
Just weeks after pleading guilty to securities fraud charges, former NIR Group analyst Daryl Dworkin is back in business.
Dworkin has founded an environmental finance consulting boutique, DFD Capital, according to the PIPEs Report. The six-month old firm aims to provide “growth capital for emerging fund managers, with a focus on global environmental markets,” the convicted felon said. “In addition, DFD Capital assists and executes financial strategies, mergers and acquisitions, restructurings and the raising of debt and equity financings.”
Dworkin is also publishing a weekly environmental finance newsletter, ProSeed.
Dworkin pleaded guilty earlier this month to taking kickbacks and defrauding NIR’s investors about the firm’s private investments in public equities funds. His conviction is just one of a number of legal headaches for the scandal-plagued Long Island hedge fund, which is also the subject of a federal fraud and kickbacks probe and which has been sued twice in the past two years by investors who accuse it of making up its returns.
DFD is already working with an Asia-focused hedge fund, Dworkin said, although he would not tell PIPEs Report which hedge fund. Still, the firm has yet to make any money, Dworkin said.
It may not have much time to do so, either: Dworkin faces up to 30 years in prison when he sentenced on the fraud charges.