Bayou Adviser Guilty Of Tax Fraud

Jul 2 2007 | 9:10am ET

Lest anyone thought that the Bayou Group defrauded only its clients, a former investment adviser for the defunct hedge fund has admitted to swindling the federal government.

Burt Kozloff pleaded guilty to income tax evasion last week in White Plains, N.Y., federal court.

Between 1997 and 2000, Kozloff acknowledged earning some $3.5 million for his work at investment advisory Select Advisors—years during which he failed to file timely returns. He also admitted to misleading his accountant into filing false information with the Internal Revenue Service and lying to the IRS about payments he claimed to have made.

Kozloff will be sentenced on Oct. 1. He faces up to five years in prison and a $250,000 fine.


In Depth

Q&A: High Conviction, Low Correlation

Oct 30 2014 | 7:35am ET

Acadian Asset Management's numbers are big: over $70 billion in assets under management...

Lifestyle

Ex-Hedgie Steyer Gives $56M To Climate Action Super PAC

Oct 28 2014 | 9:23am ET

Retired Farallon Capital founder Tom Steyer has poured almost $56 million into his...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

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.