Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

News Archive

Read More Industry News >

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.

Read More Industry News >


Want to subscribe?

Join 15,000+ of your colleagues to receive daily hedge fund news from the definitive source in traditional and hedge fund data.

Subscribe Now


Hedge Fund Journal Reviews eVestment's Hedge Fund Database

July, 2012

Read More