From finalternatives: A New Jersey man pleaded guilty Friday
to pretending to be a hedge fund manager to steal $3.5 million from investors.
George Sepero became the third man in the scam to plead
guilty in the case. He and his co-conspirators allegedly promised triple-digit
returns using a proprietary algorithmic trading system that did not exist,
sending clients phony account statements and e-mailing them screenshots of
their much-ballyhooed computer trading program.
Among Sepero's victims were an ailing elderly paraplegic,
who lost her life savings, prosecutors said. Sepero and his co-conspirators
allegedly used the stolen money to fund an extravagant lifestyle and to prop up
a Ponzi scheme….
Read all about it at https://www.finalternatives.com/node/23017
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