MC2 Hedge Fund Manager Barred For $10.5 Million Fraud
Former MC2 hedge fund manager Yasuna Murakami has been barred from the securities industry and ordered to pay $7.9 million in civil liability. Murakami is currently serving six years in prison for stealing money from investors in a Ponzi-style operation that lasted five years. He must also pay $10.5 million in criminal restitution.
This is the final judgment in the case brought by the U.S. Securities and Exchange Commission against the MC2 hedge fund manager and his fraudulent entities, MC2 Capital Management LLC and MC2 Canada Capital Management LLC. Murakami consented to the judgment and waived any right to appeal it.
MC2 Hedge Fund Manager Operated Ponzi-Scheme for Years
From May 2011 to December 2016, Murakami took money from individual and corporate investors promising to invest the dollars with a well-known firm. Instead, Murakami deposited the funds into his business and personal accounts. In order to keep the scheme going, some investors’ money was used to repay early investors who inquired about investment returns.
In January of this year, Murakami pled guilty to one count of wire fraud for misappropriating a $1 million investment in 2013. The amount is a fraction of the amount of the larger scheme. He acknowledged in court that he diverted millions of investor dollars to himself and to his business partner, Avi Chiat, who was not charged in the scheme.
Have You Lost Money as a result of MC2 Hedge Fund Manager Yasuna Murakami?
If you lost money investing with former MC2 hedge fund manager Yasuna Murakami or think you may be the victim of stockbroker misconduct, contact an experienced investment fraud attorney today.
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If you are looking for an investment fraud attorney to review your rights and options, the investment fraud lawyers at Dimond Kaplan & Rothstein, P.A. represent individual and institutional investors who have lost money as a result of investment fraud or stockbroker misconduct.