{"id":35740,"date":"2013-05-24T13:05:02","date_gmt":"2013-05-24T17:05:02","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=35740"},"modified":"2013-05-24T13:24:41","modified_gmt":"2013-05-24T17:24:41","slug":"maiden-hedge-fund-manager-pleads-guilty-released-on-50000-bond","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/05\/2013\/maiden-hedge-fund-manager-pleads-guilty-released-on-50000-bond.html","title":{"rendered":"Maiden Hedge Fund Manager Pleads Guilty, Released on $50,000 Bond"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2013\/05\/179487_185040264863031_7319881_n1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-35213 alignright\" alt=\"179487_185040264863031_7319881_n\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2013\/05\/179487_185040264863031_7319881_n1-212x300.jpg\" width=\"212\" height=\"300\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2013\/05\/179487_185040264863031_7319881_n1-212x300.jpg 212w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2013\/05\/179487_185040264863031_7319881_n1.jpg 297w\" sizes=\"auto, (max-width: 212px) 100vw, 212px\" \/><\/a>New York (HedgeCo.Net) &#8211; Charlotte hedge fund manager\u00a0Stephen Ewing Maiden\u00a0has pleaded\u00a0guilty to securities fraud for hiding investment losses that cost his victims at least $8.9 million, and was released on a $50,000 unsecured bond until sentencing.<\/p>\n<blockquote><p>&#8220;U.S. Magistrate Judge David Keesler called the alleged losses \u201cshocking\u201d before doubling the prosecutor\u2019s bond recommendation and requiring Maiden to turn in his passport.&#8221; \u00a0<em>The Charlotte Observer reported.<\/em><\/p><\/blockquote>\n<p>Maiden used personal funds as well as funds from other investors to cover investor withdrawals, he has\u00a0agreed to plead guilty to one count of securities fraud, which carries a maximum sentence of 20 years in prison and up to a $250,000.<\/p>\n<p>Maiden launched the fund in 2006 with investments from individuals in Charlotte and elsewhere, according to court documents.<\/p>\n<p>\u201cIt appears the fund suffered some of its first losses as a function of the overall recent market decline, and then, in an effort to try and offset these losses, Steve made a series of investments in increasingly risky and ill-advised ventures,\u201d\u00a0prosecution attorney Gary Mauney told the Observer this week. \u201cRather than go to his investors and advise them of the losses, Steve continued to report gains in the fund.\u201d<br \/>\nAlex Akesson<br \/>\nEditor for\u00a0<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>\u00a0is a premier\u00a0<a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; Charlotte hedge fund manager\u00a0Stephen Ewing Maiden\u00a0has pleaded\u00a0guilty to securities fraud for hiding investment losses that cost his victims at least $8.9 million, and was released on a $50,000 unsecured bond until sentencing. &#8220;U.S. Magistrate Judge David [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,16047],"tags":[],"class_list":["post-35740","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news","category-insider-trading-2"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/35740","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=35740"}],"version-history":[{"count":12,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/35740\/revisions"}],"predecessor-version":[{"id":35744,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/35740\/revisions\/35744"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=35740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=35740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=35740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}