Hedge Funds
Purported hedge fund manager Nicholas Mitsakos has pled guilty in Manhattan federal court to one count of conspiracy to commit securities and wire fraud, nearly a year after he was arrested in August 2016. Mitsakos, who founded San Francisco-based Matrix Capital Markets in 2013, was accused of fraudulently soliciting investments in Matrix by distributing marketing materials claiming millions of dollars in AUM and outsized returns.  One investor, reportedly a Cayman Islands-based fund, is said to have relied on such claims to make a $2 million investment into Matrix in September 2015 only to discover the firm had no actual assets...