Sunday, 14 September 2014
Last updated 2 days ago
Jan 25 2011 | 11:02am ET
A former New Jersey hedge fund manager has pleaded guilty to defrauding investors of $1.6 million.
Robert Sucarato pleaded guilty to one count of wire fraud in Camden, N.J., federal court Monday. He faces up to 20 years in prison when he is sentenced in May.
Sucarato was arrested in April, accused of lying to investors about, well, just about everything. He allegedly told investors his New York Financial Co. managed $7.2 billion when, in fact, its accounts had just $110,000. He allegedly claimed to have a degree from New York University, when he didn't, and, for good measure, allegedly "embellished biographies" of the firm's other executives. He also allegedly boasted of offices in New York and Chicago which did not exist.
Prosecutors said of the $1.7 million NYFC raised, Sucarato stole almost $500,000, lost another $850,000 and used the rest to prop up his Ponzi scheme.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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