Having troubled fitting this into his schedule.
Here’s the thing: As his lawyer acknowledged during his trial for stealing a few hundred K from his “investors,” Mark Malik does not handle failure well. In fact, he tends to lash out a little. So he’s going to have to ask the forgiveness of the court and SEC for not responding to those things they’ve sent him and for not showing up for hearings or even sending a lawyer. Of course, he won’t actually be asking for forgiveness, per se, because that would involve responding, which he’s not doing. It just really wouldn’t be good for where his head is at right now to get yelled at again by some guy in a robe and told to pay a bunch of money he doesn’t have. Instead, the online dating enthusiast is focused full-time on his current challenge, making it through five-to-fifteen at the Downstate Correctional Facility.
A New York federal judge said Monday he would grant the U.S. Securities and Exchange Commission's request for a $1 million judgment against an imprisoned hedge fund manager who allegedly stole money from investors before faking his own death.
During a hearing in Manhattan court, U.S. District Judge Richard Sullivan said he planned to issue a default judgment against Moazzam Malik, who is currently serving a five to 15 year prison sentence on New York state criminal charges. Malik was served with the SEC's suit but has not responded to the claims either personally or through a lawyer.
One more thing: If Malik is working on his new can’t-miss trading algorithm in advance of his triumphant return to Wall Street sometime between 2020 and 2030, he should find some other way to occupy his time. Like listening to the cars whizz by on I-84, or continuing that ongoing conversation with his syntax-challenged imaginary assistant Courtney in his head.
As part of the ruling, Malik will also be barred from soliciting investors in the future, Gizzi said.
“Hopefully nobody else will ever invest with him, but we think it’s a helpful provision to include,” he said….
“There’s not much I can do to further the cause of the investors, but at least we’ll have a judgment,” the judge said.