Star Witness in Hedge Fund Trial Has to Admit He Stole From Mom

From bnnbloomberg.ca

The star prosecution witness in the alleged fraud at Premium Point Investments described in federal court how he helped the now-defunct hedge fund overvalue its assets with false bond valuations every month. But first, he had to admit he stole from his mom. Frank DiNucci Jr., a former trader and salesman at various broker-dealers, took the stand Thursday in the trial of Anilesh "Neil" Ahuja, Premium Point’s co-founder, and former trader Jeremy Shor. Ahuja and Shor are accused of conspiring to artificially inflate the firm’s holdings in order to attract new investments and keep current investors from leaving. ... (full story)