{"id":19606,"date":"2010-12-28T09:51:53","date_gmt":"2010-12-28T13:51:53","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=19606"},"modified":"2010-12-28T10:16:30","modified_gmt":"2010-12-28T14:16:30","slug":"hedge-fund-manager-indicted-in-30-million-international-fraud-scheme","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2010\/hedge-fund-manager-indicted-in-30-million-international-fraud-scheme.html","title":{"rendered":"Hedge Fund Manager Indicted in $30 Million International Fraud Scheme"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/12\/Fotolia_18445444_XS1-300x2231.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-19611\" title=\"Financial Fraud Enforcement Task Force\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/12\/Fotolia_18445444_XS1-300x2231-300x227.jpg\" alt=\"\" width=\"300\" height=\"227\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/12\/Fotolia_18445444_XS1-300x2231-300x227.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/12\/Fotolia_18445444_XS1-300x2231.jpg 320w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>New York (HedgeCo.net) &#8211; A Utah hedge fund manager has been arraigned on multiple counts of mail fraud, wire fraud and conspiracy, relating to his operation of a Utah-based hedge fund company, \u201cCoadum Capital.\u201d<\/p>\n<p>Thomas Repke\u00a0was indicted on December 15, 2010, along with an alleged accomplice, James Jeffrey.<\/p>\n<p>&#8220;This indictment alleges a major international investment fraud scheme that defrauded over 100 victims around the country out of tens of millions of dollars, most of which has been transferred to overseas accounts.&#8221; Attorney Sally Quillian Yates said, &#8220;Those who prey on the investing public in this way will continue to find themselves facing federal felony charges.&#8221;<\/p>\n<p>Coadum Capital\u00a0attracted over 100 investors and over $30 million in investments in 2006 and 2007. Coadum offered shares in hedge funds and advertised monthly returns of 5 percent. The\u00a0indictment in this case alleges that money placed in escrow was transferred to accounts in Switzerland and the Mediterranean island of Malta, from where the money then disappeared.<\/p>\n<p>The indictment alleges that investors lost approximately $30 million with Coadum.\u00a0The charges carry a maximum sentence of 20 years in prison and a fine of up to $250,000 each.<\/p>\n<p>President Obama established the interagency Financial Fraud Enforcement Task Force to wage an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes. The task force includes representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement who, working together, bring to bear a powerful array of criminal and civil enforcement resources.<\/p>\n<p>Editing by Alex Akesson<br \/>\nFor <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; A Utah hedge fund manager has been arraigned on multiple counts of mail fraud, wire fraud and conspiracy, relating to his operation of a Utah-based hedge fund company, \u201cCoadum Capital.\u201d Thomas Repke\u00a0was indicted on December 15, [&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-19606","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\/19606","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=19606"}],"version-history":[{"count":5,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/19606\/revisions"}],"predecessor-version":[{"id":19623,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/19606\/revisions\/19623"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=19606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=19606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=19606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}