Patch.com – A hedge fund owned by Winnetka resident Clayton Cohn, 26, a U.S. Marine Corps veteran, was shut down by the Securities and Exchange Commission earlier this month. Cohn allegedly participated in hedge fund fraud that targeted current and former military service members, an article by Business Insider states.
According to the SEC, Cohn allegedly spent the money on investments in a 3-D adult film company and a hair extensions sales company, as well as a $10,000 per-month mansion in Los Angeles, a luxury sports car and “extravagant tabs” at high-end night clubs.
