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Investment Fund Co-Founder From Area Charged In Multi-Million Dollar Fraud Investment Fund Co-Founder From Area Charged In Multi-Million Dollar Fraud
Investment Fund Co-Founder From Area Charged In Multi-Million Dollar Fraud The former co-founder of a multi-million dollar hedge fund is facing charges claiming that he lied to his investors and misappropriated nearly $20 million as part of a Ponzi scheme. Jason Rhodes of Fairfield County was arrested on Tuesday morning on conspiracy, securities fraud, wire fraud, and investment adviser fraud charges.  The charges stem from his participation in an elaborate scheme to defraud investors in the hedge fund and using investor funds to repay earlier investors in a Ponzi-like manner. Beginning in November 2013, Rhodes, a resident of the village of Rowayton in Norwalk, a…

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by Zak Failla
News
Four Sentenced For Elaborate Insider Trading Scheme At Manhattan Hedge Fund Four Sentenced For Elaborate Insider Trading Scheme At Manhattan Hedge Fund
Four Sentenced For Elaborate Insider Trading Scheme At Manhattan Hedge Fund A Fairfield County resident was among four men sentenced for an elaborate insider trading scheme that net a Manhattan hedge fund millions of dollars in profit. For five years, 42-year-old David Blaszczak, a political intelligence consultant from  Isle of Palms, South Carolina, was able to obtain confidential, non-public information from members of Centers for Medicine and Medicaid Services - including Christopher Worrall, 40, of Linthicum Heights, Maryland, who was a government employee there, according to Robert Khuzami, the Attorney for the Southern District of New York. Blaszczak then pr…

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by Zak Failla
Sports
'I’ll Be Back,' Westchester Native, Ousted Radio Host Craig Carton Says In New Interview 'I’ll Be Back,' Westchester Native, Ousted Radio Host Craig Carton Says In New Interview
'I’ll Be Back,' Westchester Native, Ousted Radio Host Craig Carton Says In New Interview Westchester native and WFAN sports talk personality Craig Carton vehemently denied that he was engaged in an alleged Ponzi scheme tied to a fake ticket scam during his first radio appearance nearly a year after he was charged in federal court. The 48-year-old Carton, who grew up in New Rochelle, has been charged with wire fraud, securities fraud and conspiracy for his role in the scheme, which was allegedly aimed with an eye toward clearing gambling debt. His tiral is scheduled to begin on Oct. 29. Carton co-hosted the “Boomer and Carton” morning show for a decade alongside retired NFL quar…

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by Zak Failla
Politics
New York Congressman Arrested On Insider Trading Charges New York Congressman Arrested On Insider Trading Charges
New York Congressman Arrested On Insider Trading Charges A Republican Congressman from New York has been indicted on charges that claim he used insider information about a biotechnology company to make stock trades. Chris Collins, who represents a district in western New York was charged - along with his son, Cameron and Cameron's fiancée's father, Stephen Zarsky - with a host of charges, including conspiracy, securities fraud, wire fraud, and making false statements to the FBI, according to an indictment released on Wednesday. Collins, 68, had been under investigation by the Office of Congressional Ethics for his connection to Innate Immunothera…

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by Zak Failla
News
Ex-Wall Street Law Clerk From Katonah Sentenced For Insider Trading Scheme Ex-Wall Street Law Clerk From Katonah Sentenced For Insider Trading Scheme
Ex-Wall Street Law Clerk From Katonah Sentenced For Insider Trading Scheme A Northern Westchester man who was the former managing clerk for an international law firm was resentenced for stealing sensitive, confidential information for use in a five-year insider trading scheme that yielded net profits of more than $2 million, U.S. Attorney Craig Carpenito announced. Steven Metro, 44, formerly of Katonah, was sentenced Wednesday to 37 months in prison.  Metro pleaded guilty to the first two counts of an indictment charging him with securities fraud and conspiracy to commit securities and tender offer fraud In November 2015, and was sentenced to 46 months in prison i…

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by Joe Lombardi
News
Northern Westchester Man Among 4 Charged With 'Cooking' Hedge Fund's Books Northern Westchester Man Among 4 Charged With 'Cooking' Hedge Fund's Books
Northern Westchester Man Among 4 Charged With 'Cooking' Hedge Fund's Books A pair of Westchester residents were among those charged in federal court to their roles in an alleged securities scam that saw them overstate their investment firm’s worth by hundreds of millions of dollars to bilk investors. U.S. Attorney Audrey Strauss announced on Wednesday that White Plains resident Ashish Dole, 34, and Armonk resident Amin Majidi, 52, have been involved in an elaborate scheme that saw them mismark funds they managed by more than $200 million. According to Strauss, Majidi, Dole and New York City residents Jeremy Shor and Frank Dinucci, Jr. from 2014 through 2016, they …

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by Zak Failla
News
Northern Westchester Hedge Fund Manager Pleads Guilty To $22M Ponzi Scheme Northern Westchester Hedge Fund Manager Pleads Guilty To $22M Ponzi Scheme
Northern Westchester Hedge Fund Manager Pleads Guilty To $22M Ponzi Scheme A former hedge fund manager from Northern Westchester pleaded guilty Thursday to defrauding 45 investors, many of them friends and neighbors, of $22 million in a Ponzi scheme. Michael Scronic of Pound Ridge, 46, pleaded guilty to one count of securities fraud, which carries a maximum sentence of 20 years in prison. He is scheduled to be sentenced by Judge Cathy Seibel on July 9.  “Michael Scronic lied about the performance of his investment fund, telling investors that his returns were as high as 13 percent," U.S. Attorney for the Southern District of New York Geoffrey S. Berman said. …

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by Joe Lombardi