Posted on 05/04/2009 5:29:07 AM PDT by TigerLikesRooster
FBI arrests Stamford hedge fund manager
Staff reports
Updated: 05/02/2009 11:44:08 AM EDT
STAMFORD -- A hedge fund manager and former UBS trader -- already the subject of a federal investigation involving an alleged $30 million fraud -- was arrested by FBI agents Friday at his Stamford home on mail fraud charges.
Francesco Rusciano, 27, of Strawberry Hill Avenue, is accused of raising money for two hedge funds and defrauding victims by materially overstating and misrepresenting his background and experience as well as overstating his success and historic performance, according to a statement from Nora Dannehy, acting U.S. attorney for Connecticut.
Rusciano, who appeared Friday in federal court in Bridgeport, was held pending a court hearing set for noon Monday. Rusciano operated the Ponta Negra Fund I, LLC and the Ponta Negra Offshore Fund I, Ltd.
By significantly misrepresenting his background and experience as a trader, Rusciano defrauded a New York resident whom he persuaded to invest $500,000, according to a federal affidavit filed by FBI Special Agent John McKenna. The affidavit refers to the investor only as "BW."
(Excerpt) Read more at connpost.com ...
Ping!
Resume fraud gets you arrested by the FBI?
Perhaps they should visit 1600 Penn. Ave.?
overstating and misrepresenting background and experience as well as overstating his success and historic performance, Obama & Biden.
There’s more screwy investments with a Conn. return address. Hope the FBI keeps trolling.
Seems like almost any politician who’s run a campaign would be liable...but then most of them are “made men”...
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