Securities Law News

Ex-Hedge Fund Trader Gets Prison for Mismarking Scheme (Correct)

Nov. 21, 2019, 6:56 PMUpdated: Nov. 21, 2019, 7:11 PM

A former trader at the defunct hedge fund Premium Point Investments was ordered to spend almost 3 1/2 years in prison for conspiring with the firm’s co-founder to overvalue its assets in order to attract new investors and keep clients from leaving.

A federal judge handed down the 40-month sentence against Jeremy Shor, 48, who was convicted by a jury in July of fraudulently “mismarking” the value of fund holdings. Prosecutors said Premium Point co-founder Anilesh “Neil” Ahuja, who was also found guilty in July and faces sentencing next week, and portfolio manager Amin Majidi set inflated monthly...

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