{"id":31945,"date":"2012-10-15T09:19:58","date_gmt":"2012-10-15T13:19:58","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=31945"},"modified":"2012-10-15T09:21:38","modified_gmt":"2012-10-15T13:21:38","slug":"norfolk-hedge-fund-manager-indicted","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2012\/norfolk-hedge-fund-manager-indicted.html","title":{"rendered":"Norfolk Hedge Fund Manager Indicted"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/09\/gavel_int.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright  wp-image-25055\" title=\"gavel_int\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/09\/gavel_int-300x297.jpg\" alt=\"\" width=\"210\" height=\"208\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/09\/gavel_int-300x297.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/09\/gavel_int-150x150.jpg 150w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/09\/gavel_int.jpg 366w\" sizes=\"auto, (max-width: 210px) 100vw, 210px\" \/><\/a>New York (HedgeCo.Net) &#8211; Jeffrey Martinovich, a Norfolk hedge fund manager\u00a0was indicted on 26 charges of fraud over the weekend.<\/p>\n<p>According to a news release from the U.S. Attorney&#8217;s Office in the Eastern District of Virginia\u00a0Martinovich was charged with\u00a0mail fraud, wire fraud, unlawful monetary transactions and bankruptcy fraud. It is possible that he could serve up to\u00a020 years in prison for each count if convicted.<\/p>\n<blockquote><p>&#8220;According to the indictment, he started three hedge funds through MICG Investment LLC and began seeking investments in 2007. Acting on behalf of MICG, the CEO invested in an entity that owned an English professional soccer team, a construction bond related to a crane company and a privately traded solar energy company for the MICG Venture Strategies LLC fund.&#8221; <em>The\u00a0Virginia\u00a0Pilot reported.<\/em><\/p><\/blockquote>\n<p>The hedge fund\u00a0manager\u00a0is\u00a0accused\u00a0of inflating the value of his hedge funds, while paying himself most of the acquired investments.\u00a0He filed for Chapter 7 bankruptcy in February 2011.\u00a0The hedge fund\u00a0manger\u00a0also spent, without\u00a0reporting,\u00a0thousands of dollars in gambling winnings in Las Vegas.<\/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; Jeffrey Martinovich, a Norfolk hedge fund manager\u00a0was indicted on 26 charges of fraud over the weekend. According to a news release from the U.S. Attorney&#8217;s Office in the Eastern District of Virginia\u00a0Martinovich was charged with\u00a0mail fraud, [&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-31945","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\/31945","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=31945"}],"version-history":[{"count":3,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/31945\/revisions"}],"predecessor-version":[{"id":31947,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/31945\/revisions\/31947"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=31945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=31945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=31945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}