{"id":16352,"date":"2010-06-22T09:24:36","date_gmt":"2010-06-22T13:24:36","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=16352"},"modified":"2010-06-22T09:39:46","modified_gmt":"2010-06-22T13:39:46","slug":"alleged-mobster-charged-in-staten-island-hedge-fund-fraud","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/06\/2010\/alleged-mobster-charged-in-staten-island-hedge-fund-fraud.html","title":{"rendered":"Alleged Mobster Charged In Staten Island Hedge Fund Fraud"},"content":{"rendered":"<p>New York (HedgeCo.net) &#8211; Nine more people have been charged in connection with the Gryphon Holdings Inc. case, where federal prosecutors allege a $20 million hedge fund scam,  according to Staten Island Live (SIlive).<br \/>\n<a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/06\/110_F_378297_23ETspw2D6HWGV6DShWOekhRTiX8Sh.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-16354\" title=\"Hedge Fund Mafia\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/06\/110_F_378297_23ETspw2D6HWGV6DShWOekhRTiX8Sh.jpg\" alt=\"\" width=\"171\" height=\"167\" \/><\/a><\/p>\n<p>Among the nine charged yesterday is an  alleged Gambino crime family   associate, SIlive reported. All the  defendants were Gryphon sales  representatives and purportedly  known by other names. The defendants  were each charged with wire fraud  and securities fraud conspiracy;  securities fraud, and investment  adviser fraud conspiracy.<\/p>\n<p>In April, 2010, the SEC\u00a0 charged the self-proclaimed, \u201cWolves of Wall Street,\u201d with operating an Internet-based scam that misleads investors into  paying fees for phony stock tips and investment advice from fictional  trading experts.<\/p>\n<p>There are 14 defendants now including hedge fund founder Kenneth Marsh. The team is charged with fraud,  pretending to run a $1.4 billion hedge  fund, using fake names while claiming millions of dollars in trading riches  as well as claiming\u00a0 top-notch educational backgrounds and prominent Wall Street experience.<\/p>\n<p>Gryphon frequently posted investment tips  on the Internet, the SEC alleges, using at least 40 different monikers  such as \u201cWolves of Wall Street,\u201d \u201cWall Street\u2019s Most Wanted,\u201d \u201cPure  Profit,\u201d and \u201cMafia Trader.\u201d In reality, Gryphon\u2019s financial  publications only served as a vehicle to attract unsuspecting investors.<\/p>\n<p>According  to the SEC\u2019s complaint, Gryphon obtained more than $17.5 million from  its operations over the past three years.<\/p>\n<p>Alex Akesson<br \/>\nEditor for <a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a> is a premier <a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a> and community for qualified and accredited investors only. Membership in <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.net) &#8211; Nine more people have been charged in connection with the Gryphon Holdings Inc. case, where federal prosecutors allege a $20 million hedge fund scam, according to Staten Island Live (SIlive). Among the nine charged yesterday is [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,3],"tags":[],"class_list":["post-16352","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/16352","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=16352"}],"version-history":[{"count":4,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/16352\/revisions"}],"predecessor-version":[{"id":16355,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/16352\/revisions\/16355"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=16352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=16352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=16352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}