Saturday, 30 August 2014
Last updated 1 day ago
May 9 2007 | 11:05am ET
The prison-avoidance saga of hedge fund fraudster Hakan Yalincak continues, and this time, we can be sure he’s not crying wolf. What else we can be sure of is unclear.
In any event, Yalincak, who pleaded guilty to bank and mail fraud last year, has managed to keep himself out of jail once again after he was admitted to a hospital as a result of an apparent drug overdose, but his time as a free man looks to be drawing short.
Judge Joan Margolis, who days earlier had quashed his bid to stay out of the clink for another month after Yalincak claimed to have suffered from droopy eye and a stroke, seems to be growing tired of Yalincak’s antics: She ordered federal marshals to take the hospitalized 22-year-old into custody and to ship him straight to prison when doctors release him from St. Francis Medical Center in Hartford, Conn. He was scheduled to begin serving the remainder of three-and-a-half year sentence this week.
According to court papers, Yalincak was admitted to St. Francis on Monday after overdosing on an unidentified medication or medications. It is unclear whether the overdose was intentional or not.
Yalincak and his mother, Ayferafet, ran a hedge fund scam designed to separate the Greenwich elite from their money. Yalincak, who was a student at New York University at the time, posed as a Turkish heir.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...