Wednesday, 1 April 2015
Last updated 2 hours ago
Apr 12 2007 | 10:17am ET
Convicted felons find all sorts of new revelations in prison and U.S. District Court Judge Janet Bond Arterton expects one young hedge fund fraudster to find his “moral compass.”
The (hopefully) final act in the scandal played itself out yesterday in a New Haven, Conn., courtroom, where 22-year-old Hakan Yalincak, who at the time of his arrest was a student at New York University, acknowledged his leading role in the fraud. He pleaded guilty to mail and bank fraud last year.
“I made significant errors of judgment,” he said, before Arterton sentenced him to 3½ years in prison (he has already served 20 months). “If I could go back and take back what I’ve done, I’d do it in a heartbeat.”
But, of course, he can’t undo the multi-million dollar scam, which involved scheming his way into the orbit of Greenwich’s rich and famous posing as a Turkish heir, and so it’s back to the pokey with him on May 8. Arterton also ordered Yalincak to pay some $4.18 million in restitution.
His mother, Ayferafet, who claimed she was “bent to the will” of her son in abetting his crimes, was sentenced to two years in prison last month.
After their releases, the Yalincaks face possible deportation to—you guessed it—Turkey.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…