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

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

From Switzerland With Love: Some Hard Truths About Central Banks And Risk

Jan 23 2015 | 7:54am ET

In the wake of the Swiss National Bank uncoupling the country’s currency from...

 

Editor's Note