"Fraud Charges For Phony NYC Hedge Fund Manager Who Faked Own Death"

From Barron's Focus On Funds:

It’s hard to be a successful hedge fund manager.

Turns out that it’s even harder to pretend to be one, steal money and then fake your own death. At least if you want to get away with it.

The Securities and Exchange Commission late on Friday charged a New York City man with fraud, claiming that he stole money from investors under the guise of running a $100 million hedge fund.

Regulators said Moazzam “Mark” Malik raised nearly $850,000 from investors and then used that cash as his personal ATM. The SEC claims Malik never invested more than about $90,000 of that money in what he marketed as “a privately held Global Investment Management firm dedicated to the individuals and institutions around the world.” Doesn’t sound fishy at all....MORE

“By pretending to be a successful hedge fund manager, Malik conned investors into bankrolling his lavish lifestyle,” said Andrew M. Calamari, Director of the SEC’s New York Regional Office.  “Besides luxury travel, dining, and jewelry, investor funds paid for Malik’s continuing education courses at Harvard and his subscription to a matrimonial matching website.”

This guy is obviously a punk.
See, for example, "How to Spot a Hedge Fund Fraudster":

Bombast. In my experience they are all bombastic.
And stripper poles. You would not believe the number of stripper poles that crooks collect.
From Santangels Review....

Some of the varlets who have graced our pages:
More Strip Clubs, Private Jets and Ponzis
 
The Dénouement: Perpetrator of $190 Million Minneapolis Foreign Exchange Ponzi Scheme Sentenced

...According to court documents made public, Cook purchased a Rolls Royce Silver Spur, a Maserati Quattroporte, a Hummer H2, a Jaguar S-Type, a Mercedes-Benz, a heavily customized Audi S8, a 60-foot houseboat (complete with a brass stripper pole), an island in Canada and a two-person submarine....