Wednesday, 25 November 2015
Last updated 1 hour ago
Nov 28 2011 | 10:29am ET
A Knoxville, Tenn. man has been found guilty of running a fake hedge fund scheme while under house arrest for an earlier fraud conviction.
Jon Edward Hankins was sentenced last week to more than three years in prison for wire fraud by U.S. District Judge Amy Totenberg. Sentence was passed in Atlanta.
Prosecutors said Hankins was trying to lure investors into putting money into his fraudulent hedge fund while serving the home confinement portion of a federal prison sentence for securities fraud two years ago. The earlier scheme had involved a website, fake brochures and other documents.
Hankins claimed to manage over $100 million in two of his funds, but in reality managed nothing like that.
AP reports more than $200,000 was recovered and returned to victims.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…