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Strategies & Market Trends : Moomin Valley (formerly Troll-free Zone)

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To: Moominoid who wrote (2802)	4/12/2007 10:45:51 PM
From: RealMuLan	Read Replies (2) of 2852

If there are someone making money, there must be someone losing money, why surprised? And read this<g> investmentnews.com Hedge fund scam whiz sentenced By Aaron Siegel April 12, 2007 A former New York University student was sentenced to three-and-a-half years in prison and was ordered to pay $4.18 million in restitution for persuading investors to pour millions into a nonexistent hedge fund, according to the Associated Press. U. S. District Court of Connecticut Judge Janet Bond Arterton said Hakan Yalincak, who has already served 20 months, needs the time in prison to reflect and find his "moral compass," according to the report. Ayferafet Yalincak, Mr. Yalincak's mother, was sentenced last month to two years in prison after she pleaded guilty last year to conspiracy to commit wire fraud in connection with the scheme (InvestmentNews, March 20). Ms. Yalincak said in court papers that she had been "bent to the will" of her brilliant college-age son and played a limited role in the fraud, according to the report. Prosecutors say Mr. Yalincak charmed his way into the exclusive world of Greenwich, Conn. high finance by posing as an heir to a wealthy Turkish family, shuttled counterfeit checks across the world and brokered deals with a Kuwaiti financier.

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