Reported 26 days ago
Jordan Chirico, a former hedge fund manager at Jefferies Financial Group, is facing a federal criminal investigation and a civil lawsuit for allegedly defrauding 352 Capital out of over $100 million by investing in a Ponzi-like scheme involving nonexistent water vending machines. The fund claims Chirico failed to disclose his conflict of interest, as he and his wife had invested $7 million in the scam. Following the allegations, he was terminated from Jefferies and briefly joined another company before stepping down to focus on his defense.
Source: YAHOO