Eccleston Law: For Investors. For Advisors
About
Who We Are
Testimonials
Disclaimers
Attorneys
For Advisors
Broker Transition
Transition Contract Review
Employment Matters
State Registration Problems & Discipline
FINRA Matters
Promissory Note Matters
Team/Parnership Disputes
CFP Board Matters
FINRA Enforcement Matters
State Registration Problems & Discipline
Transition Contract Review
Broker Litigation & Arbitration
Employment Matters
Regulatory Matters
Strategic Consulting
Whistleblower Law
Promissory Note Matters
Compliance Protection
Lawyer Referral Network
Expungement of CRD/BrokerCheck Disclosures
For Investors
Securities Fraud
Breach of Fiduciary Duty
Retirement Planning Negligence
Unauthorized Trading
Lawyer Referral Network
FAQs
News & Articles
News
Articles
Financial Counsel Blog
Videos
Newsletter Signup
Contact
Site Menu
About
Who We Are
Testimonials
Disclaimers
Attorneys
For Advisors
For Advisors: Overview
Broker Transition
Broker Transition Overview
Transition Contract Review
Employment Matters
State Registration Problems & Discipline
FINRA Matters
Promissory Note Matters
Team/Parnership Disputes
CFP Board Matters
FINRA Enforcement Matters
State Registration Problems & Discipline
Transition Contract Review
Broker Litigation & Arbitration
Employment Matters
Regulatory Matters
Strategic Consulting
Whistleblower Law
Promissory Note Matters
Compliance Protection
Lawyer Referral Network
Expungement of CRD/BrokerCheck Disclosures
For Investors
For Investors: Overview
Securities Fraud
Breach of Fiduciary Duty
Retirement Planning Negligence
Unauthorized Trading
Lawyer Referral Network
FAQs
News & Articles
News
Articles
Financial Counsel Blog
Videos
Newsletter Signup
Contact

Ex-Hedge Fund Trader Receives 40 Months in Prison

Posted on November 19th, 2019 at 4:00 PM
Ex-Hedge Fund Trader Receives 40 Months in Prison

From the Desk of Jim Eccleston at Eccleston Law LLC:

A former Premium Point Investments trader received 40 months in prison for what federal prosecutors called a scheme to overinflate the fallen hedge fund's assets by $100 million by soliciting fake price quotes from a corrupt broker.

According to a recent Law 360 article, the judge ordered Jeremy Shor to report to prison on February 16, but also said she would consider an application for him to remain free while he appeals his conviction and sentence. She did not fine Shor but noted she will soon order him to make restitution to Premium Point investors, including Skybridge Capital. The amount is not determined yet.

Shor, who was convicted along with former Premium Point CEO Anilesh Ahuja by a jury on July 11 after a six-week trial, was fully aware of corruption at the fund, according to the court documents. The judge rejected Shor's argument that he was a whistleblower who tried to bring the misconduct to light.

The judge said that "I think that Mr. Shor saw the cesspool pretty quickly and jumped right in." He added that "it was Shor who brought in the corrupt broker for fake quotes to boost the fund's valuations starting in 2014 up to the time he left Premium Point in March 2016."

The sentence came in far below official sentencing guidelines, which suggested a prison term in the range of 16 years, primarily based on the $51 million loss to investors. Prosecutors said those guidelines were too high but requested a "substantial period of incarceration."

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities Fraud, Compliance Protection, Breach of Fiduciary Duty, FINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: james eccleston, eccleston law, eccleston law llc, eccleston, hedge fund management, fraud, scheme, solicitation, skybridge capital, corrupt broker

Share

Return to Archive

Latest Articles
Morgan Stanley Files Lawsuit Against $6 Million Team
January 14th, 2021 at 3:57 PM
FINRA Proposes Rule to Regulate “Restricted” Firms
January 13th, 2021 at 4:05 PM
Read More »
Latest News
CFP Board is the New Sheriff and it Is Not Your Friend
October 24th, 2020 at 10:04 AM
Defending Against a Customer Complaint First Requires Selecting Correct Legal Counsel
October 15th, 2020 at 10:02 AM
Read More »
Share

Request a Free Consultation

Attorneys are standing by during regular business hours. Call us now for immediate service, or complete the form below and we will contact you as soon as possible.

Your E-mail Address:
 
Chicago
55 West Monroe St.
Suite 610
Chicago, Illinois 60603
(312) 332-0000
(312) 332-0003
New York City
One Liberty Plaza
165 Broadway, 23rd Floor
New York, New York 10006
(312) 332-0000
(312) 332-0003
Boca Raton
2255 Glades Road
Suite 324A
Boca Raton, Florida 33431
(312) 332-0000
(312) 332-0003
2021 © Eccleston Law, LLC.
All Rights Reserved.
The law is continuously changing. Please do not rely on information found on this site without consulting a lawyer to determine if any recent changes in the law may have an impact.