Former hedge fund trader gets 40 months in prison for tricking investors by overvaluing assets
Get the Full StoryReutersJeremy Shor, a former trader at shuttered hedge fund Premium Point Investments, was sentenced to 40 months in prison on Monday, Bloomberg reported.
Shor was convicted in July for conspiring with the fund's co-founder to inflate the value of the firm's assets in order to win over new investors and keep existing clients.
Premium Point co-founder Anilesh "Neil" Ahuja who was also found guilty in July is scheduled for sentencing next week, according to Bloomberg.
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A former hedge fund trader was sentenced to spend 40 months in prison for working with the firm's co-founder to trick investors by overvaluing assets.
Jeremy Shor, a previous employee of shuttered fund Premium Point Investments, was given the sentence by U.S. District Judge Katherine Polk Failla on Monday, Bloomberg reported. See the rest of the story at Business InsiderNOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruptionSee Also:Trump reportedly shelved a ban on flavored e-cigarettes to avoid angering votersTrump hails 'cash' coming from US aid package to farmers caught in the China trade war's crosshairsState-owned oil giant Saudi Aramco is worth up to 1.7 trillion in a new IPO range, setting the stage for the world's largest public listing
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