Wednesday, 28 January 2015
Last updated 2 hours ago
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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…