Ponzi Schemer Pleads Guilty To Post-Guilty Plea Fraud

Jul 13 2011 | 10:52am ET

For the second time in little over a year, hedge fund fraudster Mark Trimble has pleaded guilty to fraud charges.

Trimble admitted yesterday that he defrauded his cycling coach of $111,000 after his Phidippides Capital Management Ponzi scheme collapsed in 2009. That year, the Commodity Futures Trading Commission barred him from trading, a ban he violated when he invested his coach's money between 2009 and earlier this year.

The coach lost some $40,000 of the money he invested with Trimble, who had it sent to bank accounts in the names of his wife and son. And as with his previous scam, prosecutors say Trimble used much of the money on himself.

Trimble has agreed to refund his coach the money as part of his plea to the money laundering charge.

Trimble pleaded guilty to his first $34 million scam in April of last year, and was sentenced to 10 years in prison in November. He faces another 10 years when he is sentenced for his more recent crime.


In Depth

Will Liquid Alts’ Performance Sustain Future Asset Flows?

Aug 25 2014 | 10:34am ET

Liquid alternative investment funds saw the highest percentage of capital inflows...

Lifestyle

Hedgies, Economists and Musicians Mingle At Milkin Mixers In Hamptons

Aug 25 2014 | 6:00am ET

Leave it to Michael Milken to bring some gravitas and sweat to the Hamptons -- along...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    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…

 

Futures Magazine

July/August 2014 Cover

The time was right

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 ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.