Legendary Hedge Fund Manager’s Soros name being used for scam
A New Jersey woman is being held on $100,000 bail for allegedly running a Ponzi scheme that solicited $450,000 for a fund supposedly overseen by legendary hedge fund manager George Soros. Who is George Soros?
The Bergen County Prosecutor’s Office said Monday that Dunya Predovan of Manahawkin, N.J. was arrested Thursday, and was charged with one count of theft by deception and four counts of issuing bad checks. She is currently in the Bergen County Jail.
According to Bergen County Prosecutor John Molinelli, Predovan ran the scheme from 2005 to 2011 where she allegedly misled investors into believing that their money was going into a fund that invested in pharmaceuticals, and allegedly promised the investors a “large interest return” even though they have not seen any of their money.
“She collected about $450,000 from investors telling them that the hedge fund was allocating assets in the pharmaceutical sector. The woman, Dunya Predovan, apparently told the investors that she had worked for Soros in the 1980s,” the report adds.
Predovan has never worked for Soros and he claims he has never heard of her, according to New Jersey prosecutors.
“Soros told the officials that he…was not aware of the existence of the hedge fund for which she was raising assets,” Touryalai reports, “You might recall, Soros exited from the hedge fund industry last July when he announced that he would no longer manage outside money.”
The imposter is being held on $100,000 bail
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