{"id":10146,"date":"2009-03-20T00:00:00","date_gmt":"2009-03-20T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hmc-hedge-fund-founder-grebow-sentenced-to-four-years-in-fraud","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2009\/hmc-hedge-fund-founder-grebow-sentenced-to-four-years-in-fraud.html","title":{"rendered":"HMC Hedge Fund Founder Grebow Sentenced to Four Years in Fraud"},"content":{"rendered":"<p>Bloomberg &#8211; Bret Grebow, co-founder of hedge fund HMC International LLC, was sentenced to four years in prison for defrauding investors out of $7.8 million in what prosecutors said was &ldquo;a classic Ponzi scheme.&rdquo; <\/p>\n<p>Grebow, of Highland, Florida, was also ordered to forfeit $7.8 million after pleading guilty last year to investment adviser fraud. U.S. District Judge Barbara Jones in Manhattan imposed the sentence. Grebow, 33, faced a maximum prison sentence of five years. <\/p>\n<p>&ldquo;He was very remorseful,&rdquo; defense attorney Vincent Gelardi said in an interview after today&rsquo;s sentencing. &ldquo;He was young at the time. He lost control of the situation.&rdquo; <\/p>\n<p><strong><a title=\"Read Complete Article\" href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&#038;sid=aTfgySh.FnKA&#038;refer=home\" target=\"_blank\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg &#8211; Bret Grebow, co-founder of hedge fund HMC International LLC, was sentenced to four years in prison for defrauding investors out of $7.8 million in what prosecutors said was &ldquo;a classic Ponzi scheme.&rdquo; Grebow, of Highland, Florida, was also [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[64,9327,4565,6850,4815,797,9330,9329,9331,19,4504,327,9328,4248,539],"class_list":["post-10146","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-bloomberg","tag-bret-grebow","tag-co-founder","tag-defense-attorney","tag-district-judge","tag-fraud","tag-gelardi","tag-highland-florida","tag-international-llc","tag-investment-adviser","tag-investors","tag-manhattan","tag-maximum-prison-sentence","tag-ponzi-scheme","tag-prosecutors"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=10146"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10146\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=10146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=10146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=10146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}