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6/07/2006
SEC Freezes Assets of Dodgy Hedge Funds, FJR Corp., Russo Associates and Eliot Partners
SEC Freezes Assets of Dodgy Hedge Funds, FJR Corp., Russo Associates and Eliot Partners
By now you know the story by heart. Promises of great returns...money changes hands and it all ends in tears (and litigation). In this case $11.5 million was entrusted to Frank J. Russo of Wakefield, Massachuetts. Unfortunately for his investors, Russo's lone "alternative investment" strategy was of the Ponzi variety. Read more via the Boston Herald.
-- MDT
-- MDT
Labels: ponzi scheme
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