Hedge Fund Manager Sentenced for Operating Multimillion-Dollar Ponzi Scheme | United States Department of Justice

A Florida man was sentenced today to one year and one day in prison for using his hedge fund management company as part of a years-long, multimillion-dollar Ponzi scheme.

According to court documents, Michael Wayne Williams, 48, of Miami, was the founder and operator and investment manager of Highguard Capital and its affiliated entities, Guardian Opportunity Fund and Guardian Opportunity Management. Williams convinced his victims to invest over $3.6 million in Guardian Opportunity Management and used their money for undisclosed and unauthorized purposes, including to settle civil lawsuits accusing him of fraud and to repay investors from discontinued funds that he previously managed.

Williams pleaded guilty in October 2023 to wire fraud.

Source: Hedge Fund Manager Sentenced for Operating Multimillion-Dollar Ponzi Scheme | United States Department of Justice