Legal
Hedge Fund Trader in Canada Gets Four-Year Jail Term for Faking Returns
- Yonge Street Capital founder pleaded guilty to fraud last year
- He had claimed fund could guarantee 25% return on investment
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A trader in Canada received a four-year jail sentence after accepting millions of dollars from investors, then giving them false information about their returns.
An Ontario court handed down the penalty to Nathanael Anthony Aikman, who pleaded guilty in November to fraud and trading securities without registration. He has also been ordered to pay restitution of more than C$3.9 million ($2.9 million).