Monday, 2 March 2015
Last updated 57 min ago
Oct 14 2011 | 7:58am ET
Convicted hedge fund fraudster Koji Goto has nothing left to lose, so the Securities and Exchange Commission has stopped trying to take it from him.
The regulator dismissed its civil complaint against Goto and Shaleen Cassily. Goto has already been sentenced to 25 to 75 years in prison and had all of his assets liquidated to cover a $3.2 million restitution order. Goto, who filed for bankruptcy in 2004, has also been found incompetent to face further trials.
The SEC sued Goto, a former John Hancock Financial Services broker, for stealing more than $5 million from clients. According to the SEC, Goto told them that he would invest the money with a Boston hedge fund and in a food services business.
The SEC sued Goto in 2003. He was convicted the following year in New Hampshire state court of theft and unlawful securities practices.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…