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Lying Hedgie Pleads Guilty To Securities Fraud, Will Forfeit $13M

by nypost.com posted 8months ago 44 views
A hedge fund manager who lied about nearly everything to attract investors pleaded guilty to securities fraud Friday. Beginning in 2015, Nicholas Genovese wooed clients into his Willow Creek hedge fund by falsely claiming to be an heir to the Genovese Drug Stores fortune, the Justice Department said Friday. Genovese also claimed to be a former Goldman Sachs partner and a graduate of Dartmouth College’s Tuck School of Business, prosecutors said. But Genovese was actually a convicted felon with a rap sheet dating back to 1997, the Justice Department said.

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