Thursday, 21 August 2014
Last updated 18 min ago
May 15 2012 | 12:23pm ET
A New Jersey woman has been arrested for selling access to a George Soros hedge fund, access she allegedly did not have.
Dunya Predovan actually ran a Ponzi scheme, prosecutors said, collecting about $450,000 from investors from 2005 until late last year. She was arrested last week on charges of theft by deception and issuing bad checks, and is being held on $100,000 bond.
Predovan told her alleged victims that she worked for Soros in the 1980s. But Soros Fund Management says she never worked there, and Soros himself told the authorities that he had never heard of Predovan or the hedge fund she was marketing.
None of Predovan's "clients" have received any money, prosecutors said.
Aug 4 2014 | 7:42am ET
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The Alpha Pages Editor's Note