• Home
  • Newsletter
  • Upcoming Events
  • Past Events
  • Webcasts
  • About
  • Contact
Securities Docket
Experts in Risk
  • Class Actions
  • Criminal
  • Features
  • Global
  • People
  • SEC
Browse: Home / 2019 / April / 03 / Yale Alum, 21, Accused of Running Hedge Fund Scam by SEC – Bloomberg

Yale Alum, 21, Accused of Running Hedge Fund Scam by SEC – Bloomberg

By Securities Docket on April 3, 2019, 10:23 am

This is one college side hustle a recent Yale grad might be regretting.

Omar Zaki, 21, ran a hedge fund while enrolled at the Ivy League university, saying his firm relied on an algorithm that had produced eye-popping returns over a 10-year period, according to the Securities and Exchange Commission.

The misrepresentation is one of many that Zaki allegedly made to investors, the SEC said in a Monday complaint. In reality, the fund never used the algorithm, misled investors about how much money it managed and wrongly reported returns in excess of 80 percent from December 2016 through early March 2017, according to the SEC.

via Yale Alum, 21, Accused of Running Hedge Fund Scam by SEC – Bloomberg.

Posted in SEC, Top | Tagged Hedge Funds

« Previous Next »

Subscribe

‘Enforcement 40’ for 2020

Our Sponsors

Securities-Docket_260x125_14Sec

Join Us On LinkedIn

Join the Securities Litigation and Enforcement Group on LinkedIn

Archives

Copyright © 2023 Securities Docket.

  • Home
  • About
  • ‘Enforcement 40’ for 2020
  • Webcasts
  • Enforcement Hall of Fame
  • Contact
  • Criminal
  • Class Actions
  • Features
  • Global
  • People
  • SEC