{"id":31592,"date":"2012-09-27T08:09:51","date_gmt":"2012-09-27T12:09:51","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=31592"},"modified":"2012-09-27T08:23:29","modified_gmt":"2012-09-27T12:23:29","slug":"nj-hedge-fund-manager-pleads-guilty-faces-20-yrs-in-jail","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2012\/nj-hedge-fund-manager-pleads-guilty-faces-20-yrs-in-jail.html","title":{"rendered":"NJ Hedge Fund Manager Pleads Guilty, Faces 20 Years"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/03\/austin-white-collar-crime-attorney.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-14688\" title=\"white-collar-crime\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/03\/austin-white-collar-crime-attorney.jpg\" alt=\"\" width=\"248\" height=\"277\" \/><\/a>New York (HedgeCo.Net) &#8211; New Jersey\u00a0&#8220;moms and pops&#8221; hedge fund manager\u00a0Michael\u00a0Spak\u00a0waived prosecution and admitted to one count of wire fraud in Camden, N.J., court.<\/p>\n<p>Spack\u00a0pleaded guilty to a charge that he conspired to defraud investors of more than $4 million.<\/p>\n<p>He faces up to 20 years in prison and a $250,000 fine when he is sentenced Jan. 9th 2012.<\/p>\n<p>The hedge fund Osiris Partners LLC\u00a0allegedly\u00a0got more than 75 people to invest over $12 million.\u00a0The prosecution claims the group hid a $4.5 million loss from investors, and spent $300,000 on a fishing boat called the &#8220;Fintastic&#8221; &#8211; all the while charging his clients the usual fees.<\/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; New Jersey\u00a0&#8220;moms and pops&#8221; hedge fund manager\u00a0Michael\u00a0Spak\u00a0waived prosecution and admitted to one count of wire fraud in Camden, N.J., court. Spack\u00a0pleaded guilty to a charge that he conspired to defraud investors of more than $4 million. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-31592","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/31592","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=31592"}],"version-history":[{"count":7,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/31592\/revisions"}],"predecessor-version":[{"id":31595,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/31592\/revisions\/31595"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=31592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=31592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=31592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}