Infinity Q Founder Gets 15 Years in Prison for Asset-Value Fraud

Infinity Q Capital Management LLC founder James Velissaris was sentenced to 15 years in prison after pleading guilty to fraudulently inflating assets held by two investment funds.

Velissaris, 38, who was also the chief investment officer of New York-based Infinity Q, was arrested and charged in February 2022 with overstating assets of a hedge fund and a mutual fund by hundreds of millions of dollars. The funds together claimed to manage about $3 billion in assets, according to prosecutors.

The sentence, which is a long one by the standards of white-collar crime, was imposed Friday by US District Judge Denise ...