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Fake HF Manager Sentenced to Prison

Mar 20, 2013
Jing Chen

A Massachusetts man has been sentenced to 40 month in prison for defrauding investors out of $2.5 million through a fake investment firm and hedge fund on Tuesday.

Reuters reported that Audrey Hicks, who fraudulently portrayed himself as a hedge fund manager to lure investors, has also been ordered to pay $2.3 million in restitution by U.S. Federal Judge Patti Saris.

eVestment reported in 2011 that according to an indictment released by the Boston U.S. Attorney’s Office, Hicks was charged with five counts of wire fraud in connection with his alleged scheme that saw him bilk at least 10 investors including NBA player and Kim Kardashian’s ex-husband Kris Humphries.

The indictment also alleged that Hicks held undergraduate and graduate degrees from Harvard University, and worked as a successful hedge fund manager for Barclays Capital.

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