Hedge fund thief nabbed in Greece

Angelo Haligiannis was arrested in Greece and then freed pending an extradition hearing next week.
AUG 21, 2007
By  Bloomberg
An ex-hedge fund president arrested in Greece was freed today pending an extradition hearing next week. Angelo Haligiannis, formerly the president of the Sterling Watters Hedge Fund of New York, was arrested yesterday on an international warrant at the Hersonissos resort on the island of Crete while he was vacationing with his wife and daughter, according to the New York Post. He is wanted in the U.S. where he was convicted of defrauding investors of at least $27 million by misrepresenting the fund's returns since 1996, according to an Associated Press report. He spent his illegal gains on Porsches and $10,000 monthly rent on a luxury apartment at the Paramount Towers on E. 39th in New York, according to a New York Post report. Mr. Haligiannis pleaded guilty in 2005 to criminal fraud charges in New York, but fled shortly before he was to be sentenced in January 2006. His arrest followed a tip from one of the defrauded investors, police told the Associated Press. Greek prosecutor Zacharias Kokkinakis agreed to his release pending a court session next week, when a panel of three judges will rule on the U.S. extradition request, made through Interpol.

Latest News

SEC Says Game Service Roblox Part of ‘Active Investigation’
SEC Says Game Service Roblox Part of ‘Active Investigation’

Short sellers previously said the company was under investigation, though Roblox denied allegations.

Musk’s DOGE descends on CFPB with intention to shut it down
Musk’s DOGE descends on CFPB with intention to shut it down

The Consumer Financial Protection Bureau is in the crosshairs of the Republican group that is widely attempting to dismantle government agencies.

Advisor fighting Finra banishment loses $17.7 million dispute with old firm
Advisor fighting Finra banishment loses $17.7 million dispute with old firm

National Securities Corp. sued the advisor in 2020, alleging breach of contract and unjust enrichment.

Job numbers, inflation leaving room for Fed to hold rates
Job numbers, inflation leaving room for Fed to hold rates

Recent data support a measured pace by the Federal Reserve for the year ahead.

Private assets remain hot despite surging stock market
Private assets remain hot despite surging stock market

Financial advisors are still adding alternatives despite the surge in publicly traded stock prices

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.

SPONSORED Why wealth advisors should care about the future of federal tax policy

Blue Vault features expert strategies to harness for maximum client advantage.