Rosalind Herman’s got a lot of time to think about the division of labor between her and her erstwhile partner, Gregg Caplitz, who received half of her sentence. Seven years, to be precise, the last three-and-a-half of which she’ll do in the knowledge that Caplitz is no longer enjoying the hospitality of the Massachusetts Department of Correction.
Rosalind Herman, 61, was also sentenced to three years of supervised release and to pay $1.8 million to the investors….
For five years, Herman and her business partner, Gregg Caplitz, told investors about a new hedge fund company, supposedly owned by Herman, that did not in reality exist, according to prosecutors. The duo took the $1.3 million they received from investors and spent it on themselves and family members, prosecutors said.
Local investment adviser gets 7 years behind bars for fake hedge fund [Boston Business Journal]