Fraudster Flips Investors the Bird for 2nd Time
So many really easy, really bad, really tempting jokes that could be made right now… But after that awful headline, I will restrain myself. I’m sorry you had to endure that.
After pleading guilty to ripping off investors in his XL Capital Partners hedge fund of $12 million in 2008, Hamilton Bird is being charged by Colordado authorities with launching a new scam to defraud investors in order to finance his defense.
According to the Examiner.com,
Bird was indicted yesterday for defrauding 14 investors from around the country of $690,000. He collected the money for his EquityFX between January 2006—five months before his indictment in the XL case—and September 2008, when he was sentenced. According to prosecutors, Bird promised investors a currency trading strategy, but actually used more than $250,000 to pay his lawyer in the XL case.
But, according to FINalternatives, Bird allegedly also used some of the cash to buy cars and furniture. Of course he did.
In order to pull off his crime, FINalternatives says the indictment states that Bird allegedly used false names in the EquityFX scam, calling himself Alex Davis or Al Byrd. He also conveniently forgot to tell investors in EquityFX about his indictment in the XL case. Oops.
Colorado Attorney General John Suthers was quoted in both articles as saying,
This case is remarkable not only for its breadth and the number of investors affected, but also because Mr. Bird perpetrated a portion of the fraud while criminal proceedings were pending against him.
Bird is already serving a 24-year sentence for the XL fraud, but now faces an additional four to 12 years on each of the seven new securities fraud and theft charges.
This guy sounds like a serious catch. Ladies?
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