A Roundup Of The Latest Litigation In Hedge Fund Land

It may be the year of the running hedge fund fraudster, but the boys in blue seem to have a handle on tracking them down. In May, authorities tracked down Kirk Wright, who allegedly defrauded investors out of more than $100 million, in Miami Beach after six weeks on the lam. Now, they’ve caught the scent of Angelo Haligiannis, who has been convicted of swindling investors in his Sterling Waters Group hedge fund out of $78 million.

Haligiannis disappeared from the corner of 11th Avenue and West 39th Street in Manhattan on the eve of his sentencing hearing in January. He faced up to a decade behind bars, but he slipped away, cutting off the ankle bracelet that had been tracking him and leaving it in his abandoned Jeep Cherokee. The New York Post reports that after eight months on the run with at least $15 million in stolen cash, the Feds may be closing in.