Phony Hedge Fund Manager Charged With Larceny, Forgery

Nov 24 2010 | 5:03am ET

A 24-year-old Connecticut man has been charged with ripping off two people by claiming to work for a hedge fund that does not exist.

Mark Traisman convinced a 26-year-old to invest $30,000 with him, according to Stamford police. He allegedly told the man that he worked for a hedge fund called RPR International, promising monthly returns of $7,000 to $8,000—a tidy 23% a month.

Traisman's victim withdrew $33,600 from a joint account he held with his mother. To facilitate the alleged larceny, Traisman forged the mother's signature, according to police, earning himself a forgery count, as well.

The alleged victim never saw the money again, police say. They also say that RPR International doesn't exist.

After being booked by Stamford police, Traisman was shipped to Wilton to be charged with larceny for a separate crime. He faces up to 20 years in prison if convicted.

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