Or the Minotaur, as fugitive U.S. hedge fund manager Angelo Haligiannis was captured Monday on the southern island of Crete.
Angelo was the former president of Sterling Watters Capital and pled guilty to swindling investors out of $27 million in September 2005. His crime – lying about the performance of his fund… which didn’t really exist after a certain point. More from Reuters:
Haligiannis told investors his funds managed $180 million in 2003 and that the fund had achieved returns of 1,565 percent between 1996 and 2003, according to the indictment. Based on those claims, Haligiannis raised a total of $26 million from some 80 investors. But the fund suffered losses of more than $17 million in 2000 alone. By January 2003, the firm had assets of less than $170,000 and "did virtually no trading whatsoever," the SEC said.
Haligiannis took off shortly before his sentencing in January 2006. A judge in January 2007 went ahead and ordered Haligiannis to pay penalties of over $30 million, figuring he’d be captured and all. Authorities eventually nabbed him in Crete because Angelo made the mistake of leaving a trail of string wherever he traveled on the isle.
Fugitive Fund Manager Arrested in Greece [DealBook]
Fugitive fund manager found in Greece [Reuters via CNN Money]
Posted by , Aug 22, 2007 11:10AM
next time you use an image of a man with his penis openly visible, give us a little nsfw heads up! geez.
Posted by John Holmes , Aug 22, 2007 11:14AM
You call that a penis?
Posted by kh , Aug 22, 2007 11:38AM
i don't think your bosses will mistake antiquity sculpture for porn...
although i do agree, nothing like fighting a giant man-bull and having to deal with the original 'flop-factor'
Need some Cretan form of Under Armour, "we will protect this labrynth!"
Posted by JT , Aug 22, 2007 11:40AM
This has nothing to do with the article, but I was just noticing some unusual trading activity, er comment activity, regarding the CNBC anchor post from yesterday. I'm curious as to what/whom is responsible for the incredibly high volume of support for Melissa Francis from a variety of psuedonyms throughout the afternoon, evening, and even this morning.
OTM producers, Little House freaks, or Melissa herself, hmmm
Posted by Lee D , Aug 22, 2007 11:42AM
Nice to see someone else making good use of his liberal arts degree in the workaday world.
Posted by , Aug 22, 2007 11:50AM
...for the record, I was kidding about the NSFW
making lame comment posts is how I get through the first half of my day
Posted by pukr fukr , Aug 22, 2007 12:05PM
The guy represents common sense. The minotaur represents Haligiannis, Sykes, Michaelson, and all the others in finance who are "full of sound and fury, signifying nothing."
And see what that guy's doing? The minotaur is gonna suck his dick -- and like it.