A delightfully whimsical faux hedge fund manager was arrested by the FBI yesterday on allegations that his hedge fund is actually a pyramid scheme. According to an affidavit, Stefan Andre Wilson’s enterprise, known at one time or another as the Christians in Crisis Investment Fund, Opus Capital Holdings, and—our personal favorite—Shake the Nations, raised $9 million on the promise of 24% annual returns. Wilson lost $5.1 million, used $1.1 million for personal expenses (inflatable Virgin Mary dolls). Among the items seized by the FBI thus far are a 2007 Porsche Cayman and a Sea Ray "pleasure boat."
‘Christians In Crisis’ Hedge Fund Manager Arrested For Fraud [FINalternatives]
Posted by EE , Mar 03, 2008 3:18PM
Jesus is a long-term value investor, not your run-of-the-mill 24% annual return hedgie, get real
Posted by guest , Mar 03, 2008 3:21PM
Meredith Whiteney= Tipper Gore?
http://www.ft.com/cms/893ac9c8-757e-11dc-b7cb-0000779fd2ac.html?_i_referralObject=671013049&fromSearch=n
Posted by guest , Mar 03, 2008 3:31PM
2nd try.
Did he, by chance, purchase said "pleasure boat" from Fred Smoot or any other member of the Minnesota Vikings?
-Nominate Me
Posted by guest , Mar 03, 2008 3:48PM
Also, if I'm going to spend ~$1 million of someone's money, I'm not skimping on the Cayman. Grow a pair and at least go with the 911. No self respecting hedge fund manager could fit gay hookers or blow into a Cayman.
-Nominate me
Posted by Anal_yst , Mar 03, 2008 4:48PM
@ nominate me
Maybe he used the majority of the $ on the blow, and only had enough left for a $100k Sea Ray and a $60k Cayman...
Posted by diablo , Mar 03, 2008 5:23PM
Jesus, Mary and Joseph! Inflatable Virgin Mary dolls? Lock him up and throw away the key.