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

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

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

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...