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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

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Accused Hedge Fund Thief Takes to Web in Hopes of Avoiding Prison

Jul 29, 2013
Joey Peters

A former Hedge Fund Firm employee accused of stealing close to $1 million from her employer has turned to the popular crowd-funding route in a bid to avoid jail time, per FundFire.

Renata Shamrakova, 28, plead guilty in March from stealing Hedge Fund Manager Todd Meister. In a plea deal, Shamrakova agreed to repay $821,000 in two tranches or face one-to-three years in prison, per the article.

As of print time, a crowd-funding venture established to help pay the amount had netted $175 from three people.

During court proceedings, Shamrakova admitted to opening two American Express credit cards in Meister's name - charging in excess of $900,000 worth of travel to multiple destinations along with jewelry which she later sold for cash, the article states. To repay the charges, Shamrakova allegedly wrote checks from an account registered to Meister without his consent.

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