Harvard-grad financier gets 3 years in prison for $23M fraud
Source: Associated Press
Harvard-grad financier gets 3 years in prison for $23M fraud
Larry Neumeister, Associated Press
Updated 5:26 pm, Tuesday, July 11, 2017
NEW YORK (AP) — An Ivy League-educated financier whose friends and family invested millions of dollars with her investment firms was sentenced on Tuesday to three years in prison after squandering more than $23 million, mostly through bad investments.
Haena Park, 41, was sentenced in Manhattan federal court by Judge Ronnie Abrams, who said she had about as privileged a background as anyone she had ever sentenced.
"You squandered it all," the judge said of Park, whom the government described as having dangled her Wall Street success and Harvard degree to win the trust of relatives, close friends and former classmates.
The judge said she still didn't understand how Park "could lie and steal from those you loved" by soliciting investments beginning in September 2009 in companies that prosecutors said in court papers had "impressive-sounding names like Argenta Capital GP LLC and Phaetra Capital Management LP."
Read more: http://www.chron.com/news/crime/article/Harvard-trained-financier-gets-3-years-prison-for-11281321.php
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