Thursday, April 18, 2013

….And Another Hedge fund operator pleads guilty…

.Yusaf Jawed on Tuesday pleaded guilty to felony charges that alleged Portland-based Grifphon Asset Management was little more than a Ponzi scheme.

The charges included five felony counts of mail fraud and 12 felony counts of wire fraud. Each count carries a maximum 20-year sentence and $250,000 fine….

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