Reported about 24 hours ago
Jordan Chirico, a former hedge fund manager at Jefferies, has been charged with fraud for allegedly directing the purchase of nearly $100 million in bonds tied to a non-existent water vending machine business. Federal prosecutors claim that both Chirico and the business owner, Ryan Wear, engaged in deceptive practices that misled investors, including military veterans, about the nature and existence of the investment. The Securities and Exchange Commission has also filed civil charges against them, alleging multiple violations of fiduciary duty.
Source: YAHOO