Hedge Fund Manager Arrested For Alleged $2 Million Ponzi Scheme

Feb 12 2013 | 1:45pm ET

Hedge fund manager Jason Konior has been arrested and charged with running a Ponzi scheme that cost victims $2 million.

The New York man was charged last week with ripping off three investors to pay his own expenses and to cover redemption requests from earlier investors. Konior is set to appear in court on the securities and wire fraud charges tomorrow.

The criminal allegations against Konior come eight months after the Absolute Fund Advisors and Absolute Fund Management founder was hit with a Securities and Exchange Commission lawsuit paralleling the criminal claims. Both complaints allege that Konior repeatedly lied to investors.

If convicted, Konior faces 20 years in prison on each fraud count.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR