{"id":18606,"date":"2010-11-01T00:00:44","date_gmt":"2010-11-01T04:00:44","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=18606"},"modified":"2010-10-31T11:13:04","modified_gmt":"2010-10-31T15:13:04","slug":"hedge-fund-fraud-nicholson-gets-40-years","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2010\/hedge-fund-fraud-nicholson-gets-40-years.html","title":{"rendered":"Hedge Fund Fraud: Nicholson Gets 40 Years"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/10\/alg_james_nicholson-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-18607\" title=\"James Nicholson of Westagte Capital Management\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/10\/alg_james_nicholson-1-300x227.jpg\" alt=\"\" width=\"210\" height=\"159\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/10\/alg_james_nicholson-1-300x227.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/10\/alg_james_nicholson-1.jpg 426w\" sizes=\"auto, (max-width: 210px) 100vw, 210px\" \/><\/a>New York (HedgeCo.net) &#8211; Hedge fund founder James Nicholson pleaded guilty to stealing up to $140 million in a Ponzi type scheme. He was sentenced to 40 years in prison on Friday by U.S. District Judge Richard Sullivan.<\/p>\n<p>The New Jersey hedge fund founder admitted that he lied to investors about his AUM and returns. Bloomberg reports that according to the prosecution, Nicholson told investors he had $900 million under management, when in reality he only controlled between $50 million to $60 million.<\/p>\n<p>Reuters said that among the victims were members of Nicholson&#8217;s extended family, as well as a schoolteacher. Nicholson pleaded guilty to securities fraud, investment adviser fraud and wire fraud charges.<\/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; Hedge fund founder James Nicholson pleaded guilty to stealing up to $140 million in a Ponzi type scheme. He was sentenced to 40 years in prison on Friday by U.S. District Judge Richard Sullivan. The New [&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-18606","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\/18606","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=18606"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/18606\/revisions"}],"predecessor-version":[{"id":18608,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/18606\/revisions\/18608"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=18606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=18606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=18606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}