Nascent Hedge Fund Gets Conn. Man Sent Back To Jail

Jun 4 2008 | 1:27am ET

For some criminals, old habits die hard.That’s the story authorities are telling about John Eseppi, a Connecticut man convicted of larceny and barred by the terms of his parole from investment banking or anything like it. According to police, they found evidence that Eseppi has been passing himself off as a hedge fund manager when he was arrested for alleged drunk driving on May 23.

In his car, police found documents that showed he had set up a firm called Downing Capital Development in Avon, Conn., telling potential investors that he was a hedge fund manager. He even collected money, with checks for amounts as high as $10,000.

Eseppi reportedly told his probation officers that he was working for a construction company following his early release from prison in April, and that he has less than $100 to his name.

A Connecticut judge sent Eseppi back to jail on Monday for violating the terms of his probation.

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