Ponzi Schemer Gets 15 Months For Second Fraud

Feb 28 2012 | 6:32am ET

This time, the judge went easy on him.

Former hedge fund manager Mark Trimble was sentenced to 15 months in prison for ripping off his cycling coach to the tune of $40,000. The Phidippides Capital Management founder could have received 10 years in prison.

Of course, Trimble is already serving 10 years for running a $34 million Ponzi scheme. He managed to get into trouble again in 2009 while awaiting trial in that case, both defrauding his coach and violating a Commodity Futures Trading Commission ban from trading.

Trimble pleaded guilty in both cases.

In the most recent, he was ordered to pay $41,000 in restitution to his coach—on top of the $9 million he was ordered to pay Ponzi scheme victims in 2010.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

CAIS: How Technology is Disrupting the Alternative Investment Industry

Nov 7 2017 | 5:35pm ET

If there’s one thing that alternative investment professionals can agree on, it...