Sane Capital Founder Finds Himself In Jail

Nov 28 2006 | 10:59am ET

Evan Misshula, the fraudster behind the hilariously-named bogus hedge fund Sane Capital, was sentenced to 21 months in the clink and ordered to repay all $537,000 he stole from his “investors,” or, in common parlance, victims. He’ll spend an additional three months under house arrest when he gets out.

New York- and Greenwich, Conn.-based Sane Capital, which Misshula founded in 2000, was really nothing more than an ATM for Misshula, who pocketed the “investments” and then lied to his “clients” about mythical returns on investments that, of course, did not exist. Misshula, who lived in Greenwich prior to his recent move to a supervised facility, pleaded guilty to his crimes—in this case, mail fraud—over the summer.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...