Wednesday, 17 December 2014
Last updated 4 hours 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.