Wednesday, 25 November 2015
Last updated 4 hours ago
Jun 27 2013 | 10:01am ET
There's not much question as to how long hedge fund fraudster Yusaf Jawed will spend in prison, but his victims will have to wait a little longer to see him formally sentenced.
The Grifphon Asset Management scammer was to be sentenced on Monday. But the hearing has been delayed, to Sept. 9. The motion for the postponement was unopposed.
Jawed pleaded guilty to 17 counts of mail and wire fraud in April. His plea deal calls for a six-and-a-half year prison sentence.
According to prosecutors, Jawed ran a Ponzi scheme at his Oregon hedge fund for a decade. The Securities and Exchange Commission, which in September sued Jawed and his former business partners, alleges that the former defrauded more than 100 investors of $37 million, making both Ponzi-type payments to earlier investors and using investor money to pay personal expenses.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…