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NYU Kid Gets 3 1/2 For Defunct "Moral Compass"

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Hakan Yalincak, the NYU student who created a fake hedge fund based in fake Greenwich, CT for which he got real investors to invest in by fashioning himself as an heir to a wealthy Turkish family and (nearly succeeded in) successfully swindled $8.8 million has been sentenced to 42 months in prison. The would-be mastermind told Judge Janet Bond Arterton, “If I could take back what I did, I would do it in a heartbeat” which doesn’t necessarily strike us as cheesy so much as missing that extra: “and I wouldn’t get caught.”
Yalincak’s mother, who was also involved in the scam (and, like Ted Kaczynski's mom, claimed to have had full confidence in her son’s abilities) is currently serving a two year sentence. On a related note, Eugene Plotkin will likely do twenty for his own shady deals which apparently proves that if you’re going to steal money, just steal—don’t do insider trading (or: employ Ivan Boesky's legal team). Mother and son also face deportation following their release.
Younger Yalincak Gets 3½ Years For ‘Significant Errors’ [FINalternatives]