Mother of Hedge Fund Scam Artist Deported
Filed in archive Hedgetalk by Alex Akesson on January 21, 2008

Yalincak," age 21, also a Turkish citizen, may also be deported after he completes his 3.5 year sentence, according to officials.The mother and son team were charged in March of 2007 with operating a multi-million dollar investment hedge fund fraud scheme. According to documents filed with the Court and statements made in court, Ayferafat Yalincak and Hakan Yalincak solicited approximately $7 million from several investors for their fake hedge fund.
The conspiracy charge carried a maximum term of imprisonment of five years and a fine of up to $250,000. She completed her prison term in November after getting credit for serving more than 14 months in prison before her sentencing. She is now in the custody of federal immigration officials.
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