Bus drivers, subway conductors and religious and charitable organizations nationwide were among the victims, authorities say.
Bus drivers, subway conductors and religious and charitable organizations nationwide were among the victims when fraud sped up the downfall of private investment funds once worth $11 billion, causing a loss of $5 billion for investors, authorities said Tuesday.
The office of U.S. Attorney Damian Williams called it"one of the most significant corporate resolutions in history." It said they carried out a"massive fraudulent scheme that concealed the immense downside risks of a complex options trading strategy they called 'Structured Alpha.'"
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