Tuesday, 31 May 2016
Last updated 3 days ago
Sep 27 2013 | 10:30am ET
Hedge fund fraudster Thomas Hampton is headed to federal prison.
The Hampton Capital Markets founder was sentenced to two-and-a-half years in prison for lying to investors about millions of dollars in losses. He pleaded guilty in April to securities fraud.
According to the Commodity Futures Trading Commission, Hampton raised about $5.2 million from at least 72 people for his exchange-traded fund strategy. He regularly trumpeted Hampton Capital's profits—in spite of the fact that there weren't any.