Hedge fund-scam mom to be deported

The mother convicted with her son in a multimillion-dollar hedge fund scheme will be deported to her native country, according to an Associated Press report. Ayferafet Yalincak was ordered to be sent back to her Turkey following a hearing in Hartford, Conn., said Susan Eastwood, , a spokeswoman for the U.S. Justice Department's immigration review office, according to the report. Ms. Yalincak has 30 days to appeal the deportation. She was sentenced last March to two years in jail after she pleaded guilty to conspiracy to commit wire fraud in connection with the scheme. Ms. Yalincak finished her term in November after being credited for serving more than 14 months in prison before her sentencing (InvestmentNews, March 20) . She is now in the custody of federal immigration officials. Her son, Hakan, was sentenced last year to 3 1/2 years in prison after being convicted of convincing investors to place millions of dollars into a nonexistent hedge fund (InvestmentNews, April 12) . He was accused of posing as an heir to a wealthy Turkish family and shuttled counterfeit checks worldwide and brokered deals with a Kuwaiti financier. Mr. Yalincak also faces possible deportation and is set to be released from jail in September.