Hedge Funds
The star prosecution witness in the alleged fraud at Premium Point Investments described in federal court how he helped the now-defunct hedge fund overvalue its assets with false bond valuations every month. But first, he had to admit he stole from his mom. Frank DiNucci Jr., a former trader and salesman at various broker-dealers, took the stand Thursday in the trial of Anilesh "Neil" Ahuja, Premium Point’s co-founder, and former trader Jeremy Shor. Ahuja and Shor are accused of conspiring to artificially inflate the firm’s holdings in order to attract new investments and keep current investors from leaving.

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