Fraudster Gets 18-Months In Pokey

Sep 14 2006 | 12:00am ET

A phony hedge fund manager in Kansas has been sentenced to 18 months in prison for defrauding investors out of $1.7 million.

Scott Brian Kaye was convicted of swindling 17 investors in his TrueHedge Capital Partners, allegedly using a half-million of their dollars to build himself a swanky house in Wichita and losing most of the rest on speculative investments.

When he gets out of jail, the sentencing judge recommended he pay restitution as part of his two-year supervised release period.

No word on what he’ll do to make a dent in that debt.


In Depth

Star Fund Managers Battered By Rocky Ride In Yields, Currencies

May 28 2015 | 6:05am ET

Some of the biggest names in the investment world have been whipsawed by the recent...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

The Road To Tax Alpha

May 28 2015 | 5:36am ET

Tax-related alerts are increasingly helping investment managers harvest tax alpha...

 

Sponsored Content

Editor's Note