Well-Traveled Calif. Hedge Fund Fraudster Convicted

Jun 21 2012 | 11:01am ET

Two years after his return to the U.S. to face hedge fund fraud charges, Albert Hu stands convicted of them.

A federal jury in San Jose, Calif., yesterday found Hu guilty of seven counts of wire fraud. Hu was accused of ripping off investors in his two California hedge funds of $5 million, promising double-digit returns but actually stealing millions.

In 2008, Hu fled the U.S.—after moving the stolen assets from Singapore to Hong Kong and Taiwan. He was extradited from Hong Kong in 2009, after dropping his fight against the move.

Hu, who has been in prison since his return to the U.S., faces decades in prison when he is sentenced later this year.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

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

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of