Tuesday, February 12, 2013

Grim News: New York fund manager arrested on Ponzi scheme charges

A New York fund manager was arrested on Monday on charges of orchestrating a Ponzi scheme and stealing around $2 million from three hedge fund investors, U.S. authorities told Yahoo.

Federal prosecutors charged Jason Konior, 39, with defrauding investors by promising to match their investments in his fund, Absolute Fund LP, many times over.

Prosecutors said he used $2 million of the money he collected from three hedge funds to pay his own expenses and to cover redemption requests from prior investors, according to the criminal complaint dated February 7...

More?  Check out http://finance.yahoo.com/news/york-fund-manager-arrested-ponzi-034234733.html

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