{"id":47674,"date":"2015-04-23T08:03:43","date_gmt":"2015-04-23T12:03:43","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=47674"},"modified":"2015-04-23T08:17:53","modified_gmt":"2015-04-23T12:17:53","slug":"married-couple-sentenced-to-jail-for-hedge-fund-fraud","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/04\/2015\/married-couple-sentenced-to-jail-for-hedge-fund-fraud.html","title":{"rendered":"Married Couple Sentenced To Jail For Stealing $6.5 Million Through A Fictitious Hedge Fund"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2015\/04\/7537804_G.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-47684\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2015\/04\/7537804_G.jpg\" alt=\"7537804_G\" width=\"440\" height=\"226\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2015\/04\/7537804_G.jpg 440w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2015\/04\/7537804_G-300x154.jpg 300w\" sizes=\"auto, (max-width: 440px) 100vw, 440px\" \/><\/a>New York (HedgeCo.Net) &#8211; An Oklahoma husband and wife were handed prison sentences yesterday for stealing over $6.5 million from six victims who thought they were investing in a hedge fund.<\/p>\n<p>Linda Livolsi was sentenced to\u00a045 months (3.75 years) in prison, three years of supervised release, and ordered to pay approximately $6.1 million in restitution. \u00a0 Her husband, William Livolsi, was sentenced to two years in prison, three years of supervised release, and ordered to pay approximately $5 million in restitution.<\/p>\n<p>\u201cThe defendants used convincing tactics and tempting monetary returns to persuade their victims to part with their money,\u201d said U.S. Attorney Bogden.\u00a0 \u201cIf someone offers unusually high returns on an investment, it is likely too good to be true.\u201d<\/p>\n<p>Since about 2003, under the artifice of RGM Enterprises, LLC, Linda Livolsi had been soliciting and inducing persons to give her money for the purpose of investing it in a purported hedge fund that offered large monetary returns.\u00a0 In reality, the hedge fund never existed and the Livolsi\u2019s spent most the money for their personal benefit.<\/p>\n<p>The Livolsi\u2019s fraudulently obtained about $6.5 million in funds from six investors from 2003 to 2007, including approximately $5 million that came from one victim. \u00a0Linda Livolsi also filed false federal tax returns for the years 2003 to 2006, and failed to file tax returns for 2007 and 2008. Her total tax liability for those years, not including interest and penalties, is approximately $1.1 million.<\/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; An Oklahoma husband and wife were handed prison sentences yesterday for stealing over $6.5 million from six victims who thought they were investing in a hedge fund. Linda Livolsi was sentenced to\u00a045 months (3.75 years) in [&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-47674","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\/47674","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=47674"}],"version-history":[{"count":7,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/47674\/revisions"}],"predecessor-version":[{"id":47689,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/47674\/revisions\/47689"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=47674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=47674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=47674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}