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

The Benefits Of Private Debt Investing

May 7 2015 | 10:43am ET

Jeffrey Haas is chief operating officer of Old Hill Partners Inc., an SEC-registered...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

How To Generate 6% Yield In A Volatile World

May 22 2015 | 6:41am ET

Private credit comes in many different flavors, all with the common themes of over...

 

Editor's Note