Feds bust up alleged hedge fund scheme at Plainview photo shop -

Hedge funds may be all the rage in the investing world. But simple and easy enough to run even from a Plainview photo studio between portrait taking? Not quite, said federal officials Wednesday who indicted the ...

[Veritas]

A word to the wise:

A fool and his money are soon parted.

If it sounds too good to be true, then it isn't!

[Greg Gregory]

I wonder when the FBI will bust up the first group of low salary, low GS-rating, analysts caught making millions by using the NSA's apparatus to conduct insde trading on intercepts related to FDA approvals, buy-outs, pre-earning release e-mails? They have already caught a guy who stalked his ex-girlfriend using classified databases. I can't imagine that ther arent' clusters of analysts worldwide making a fortune by intercepting faxes, e-mails, cell phone calls by executives of Fortune 500's.

[Waldo Leidecker]

Caught running a phoney hedge fund? I guess the moral of the story is not to piss off the rich and greedy.

[lee]

i find it hilarious that a cashier at a pizza place and a photo shop owner almost pulled this off. im surprised they even knew how to set up a trading account. i wonder what stocks they bought...maybe canon or dominos

[Palmyrapaul]

When are they going to go after the big crooks on Wall Street?