Funds Manager Fraud!

I was reading an article on the wire about a funds manager turning out to be a fraud. It seems that Robert J. Sucarato was playing the role of a funds manager and stole at least $1.5 million from his investors. Regulators have stated that most of the investors money is gone. The regulators have filed a civil lawsuit against him because he raised that money under false pretenses. At lease Sucarato won’t be able to run with the money. A New Jersey federal judge decided to freeze all Sucarato’s assets, and ordered him not to destroy any documents. His world came crashing down around him when investors started to demand their money. Better luck next time – jerk!

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This entry was posted on Thursday, May 1st, 2008 at 2:17 pm and is filed under Investing. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.