Mom Helped Hedge Fund Fraud Son

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The mother of hedge fund fraudster Hakan Yalincak pleaded guilty yesterday to helping her son cheat investors out of millions of dollars. Ayferafet Yalincak, who goes by “Jackie,” could face up to five years in prison for her role in the scam, in which NYU student Hakan convinced investors that his Greenwich, Connecticut family had ties to vast wealth in Turkey and powerful investors in the middle east. Prosecutors say there never was any sort of hedge fund at all. Just an expense account for Hakan to buy things like a Porsche and Tiffany jewelry.

Mother admits helping son run hedge fund scam
[AP via Boston Globe]

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