Hedge Fund Manager Admits To Fraud

Jul 11 2013 | 11:46am ET

A New York hedge fund manager has pleaded guilty to running a $2.9 million Ponzi scheme.

Jason Konior faces up to 20 years in prison on the wire fraud count. He is to be sentenced Nov. 8 in Manhattan federal court.

Konior was charged with ripping off investors to pay his own expenses and to cover redemption requests from earlier investors. He also allegedly lied to clients of his Absolute Fund Advisors and Absolute Fund Management, promising to match their investments nine times over.

Konior, who was arrested in February, still faces a Securities and Exchange Commission lawsuit, filed last year.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note