Tuesday, 29 July 2014
Last updated 8 hours ago
Sep 19 2007 | 4:06pm ET
A fugitive hedge fund manager who was convicted in the U.S. last year of defrauding investors out of $78 million was rearrested yesterday in Greece where he has been hiding from U.S. authorities.
Following his conviction in January 2006, Angelo Haligiannis, 35, who ran New York-based hedge fund Sterling Waters Group, cut his ankle bracelet, left it in an abandoned Jeep Cherokee in midtown Manhattan, and fled the U.S. He had been facing up to a decade behind bars for running a Ponzi scheme.
Haligiannis was arrested on Tuesday and has been charged with new crimes unrelated to previous charges filed in New York, according to a spokesman for the U.S. Marshals service.
Last month, Haligiannis was seen by someone he had scammed in the lobby of a luxury hotel in Crete. The man reported him to the local police, but Greek authorities refused to hold Haligiannis, saying that a Greek citizen—which he is—cannot face extradition to the U.S. for white-collar crimes. Then, this month, another alleged victim, this one located in Greece, filed a fraud complaint and Haligiannis was re-arrested.
There is no word on whether Haligiannis will face extradition to the U.S. this time around.
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…