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Friday, October 08, 2021 10:22:03 PM
Co-Founder Of Investment Fund Sentenced To 4 Years In Prison For Defrauding Investors Of Over $25 Million
Jason Rhodes Served as Chief Investment Officer and Chief Risk Officer While Defrauding Investors
Audrey Strauss, the United States Attorney for the Southern District of New York, announced that JASON RHODES, the co-founder, chief investment officer, and chief compliance officer for Sentinel Growth Fund Management, LLC (“Sentinel”), was sentenced today by U.S. District Judge Sidney H. Stein to 48 months in prison for securities fraud, wire fraud, investment adviser fraud and conspiracy charges. Those charges relate to RHODES’s participation in a scheme to defraud over 25 investors in Sentinel out of more than $25 million by lying to the investors and using investor funds for his own personal use and to make repayments to earlier investors in a Ponzi-like manner.
U.S. Attorney Audrey Strauss said: “Jason Rhodes defrauded investors in the fund he co-founded of more than $25 million through years of lies and deceit. This conduct is made even worse by the fact that Rhodes served as the chief investment officer and Chief Risk Officer of Sentinel, roles in which it was his direct responsibility to safeguard investor funds. Rhodes will now serve four years in prison for his crimes.”
According to the Indictment and other Court filings:
* * *
RHODES, 48, of Rowayton, Connecticut, was also sentenced to three years of supervised release and ordered to pay restitution and forfeiture of $25,451,801.
Ms. Strauss praised the work of the FBI. She also thanked the Securities and Exchange Commission for its assistance.
This case is being handled by the Office’s Securities and Commodities Fraud Task Force. Assistant U.S. Attorney Jared Lenow is in charge of the prosecution.
https://www.justice.gov/usao-sdny/pr/co-founder-investment-fund-sentenced-4-years-prison-defrauding-investors-over-25
"The Price of Lies is the Consequence of Them Compounded with The Possibilities Limited by the Outcome of Said Lies. But Then There's Truth."
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