Wednesday, 30 July 2014
Last updated 5 min ago
Jul 24 2013 | 9:26am ET
Having admitted to brazenly ripping off her boss to the tune of almost $1 million, hedge fund manager Todd Meister's former assistant has struck upon a rather brazen way to pay him back: with your money.
Renata Shamrakova, who pleaded guilty to stealing $821,000 from the Pride Rock Management co-founder, needs to pony up half that amount in December to stay out of jail. The trouble is, Shamrakova's parents have had no luck selling a piece of property in upstate New York, the proceeds of which were to cover the restitution. So Shamrakova is seeking to crowdsource the funding, via a GoFundMe.com page, "Restitution for Renata."
Shamrakova, who made a brief court appearance yesterday, told the New York Daily News that she doesn't "expect people to feel bad for me; I'm just using the resources that are available to me." Despite that disclaimer, the GoFundMe page urges would-be donors to see that Shamrakova deserves "a second chance to restart my life while there is still an opportunity to do so."
"I am 28 years old and a prison sentence would ruin my life both on a real level, as a health risk due to a fainting condition, and on an emotional level," she wrote. She also all but asked for a job, citing her "entrepreneurial spirit and the right eye to make my own skills come to life" and seeking "someone who does real estate development in the Catskills or a mentor."
It's unclear if the latter plea has produced results, but in spite of 98 shares on Facebook, Shamrakova's request for financial assistance have produced only $175 in pledges.
Should her luck turn around, and leave her with a profit after repaying Meister, Shamrakova told the News she'd invest the money in a company that employs women in Africa. If not, she'll got to prison for at least one year.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…