Saturday, 25 October 2014
Last updated 1 day ago
Mar 4 2013 | 12:41pm ET
A New Jersey man pleaded guilty Friday to pretending to be a hedge fund manager to steal $3.5 million from investors.
George Sepero became the third man in the scam to plead guilty in the case. He and his co-conspirators allegedly promised triple-digit returns using a proprietary algorithmic trading system that did not exist, sending clients phony account statements and e-mailing them screenshots of their much-ballyhooed computer trading program.
Among Sepero's victims were an ailing elderly paraplegic, who lost her life savings, prosecutors said. Sepero and his co-conspirators allegedly used the stolen money to fund an extravagant lifestyle and to prop up a Ponzi scheme.
Sepero faces up to 20 years in prison for fraud, conspiracy and tax evasion when he is sentenced in June.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.