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Thursday, June 14, 2007

40%/Year Hedge Fund Manager Pleads Guilty

Joseph Ferona, a Colorado hedge fund manager who's office was located next to an auto body shop, advertised high hedge fund on a road sign. He promised 40% per year and received $2.9 million from investors, which he used to buy a house, cars and boats, according to RockyMountainNews.com. Ferona plead guilty to fraud.

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