{"id":1466,"date":"2014-06-14T22:17:53","date_gmt":"2014-06-14T22:17:53","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/06\/hedge_fund_fraud_news_exosiris"},"modified":"2022-03-11T13:12:07","modified_gmt":"2022-03-11T19:12:07","slug":"hedge-fund-fraud-news-exosiris","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/hedge-fund-fraud-news-exosiris\/","title":{"rendered":"Hedge Fund Fraud News: Ex-Osiris Partners Principals Must Pay $55M, Ex-SAC Manager Gets Prison Sentence for Insider Trading, Lawyer Goes to Prison Over Rothstein Fraud, and Former New Stream Capital Executives Plead Guilty"},"content":{"rendered":"<p>\t\t\t\t<strong>NJ Court Orders Former Osiris Partners LLC Principals To Pay Over $55M <\/strong><\/p>\n<p>A state court in New Jersey has ordered the ex-principals of Osiris Partners LLC, Ex-CEO Michael J. Spak, ex-Chairman Peter Zuck, and ex-controller Joseph C. Spak to pay more than $55 million in penalties and restitution for <a href=\"https:\/\/www.stockbroker-fraud.com\">hedge fund fraud<\/a>. Investors were bilked when the men fraudulently inflated the firm&#8217;s net asset value and diverted funds for personal spending. <\/p>\n<p>Prosecutors contend that the men overstated the net asset value of the hedge fund so that management fees would be higher and losses could be hidden. Unregistered agents were hired to sell limited partnership interests. By the latter part of 2011, the net asset value of the fund was nearly nil because of the inflated management fees, the misappropriation of the money, investor payments, and trading losses. Dozens of investors were harmed. <\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/hedge-fund-fraud-news-exosiris\/\"  title=\"Continue Reading Hedge Fund Fraud News: Ex-Osiris Partners Principals Must Pay $55M, Ex-SAC Manager Gets Prison Sentence for Insider Trading, Lawyer Goes to Prison Over Rothstein Fraud, and Former New Stream Capital Executives Plead Guilty\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NJ Court Orders Former Osiris Partners LLC Principals To Pay Over $55M A state court in New Jersey has ordered the ex-principals of Osiris Partners LLC, Ex-CEO Michael J. Spak, ex-Chairman Peter Zuck, and ex-controller Joseph C. Spak to pay more than $55 million in penalties and restitution for hedge fund fraud. Investors were bilked [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3748],"tags":[],"class_list":["post-1466","post","type-post","status-publish","format-standard","hentry","category-hedge-funds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Hedge Fund Fraud News: Ex-Osiris Partners Principals Must Pay $55M, Ex-SAC Manager Gets Prison Sentence for Insider Trading, Lawyer Goes to Prison Over Rothstein Fraud, and Former New Stream Capital Executives Plead Guilty &#8212; Investor Lawyers Blog &#8212; June 14, 2014<\/title>\n<meta name=\"description\" content=\"NJ Court Orders Former Osiris Partners LLC Principals To Pay Over $55M A state court in New Jersey has ordered the ex-principals of Osiris Partners LLC, &#8212; June 14, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/hedge-fund-fraud-news-exosiris\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Hedge Fund Fraud News: Ex-Osiris Partners Principals Must Pay $55M, Ex-SAC Manager Gets Prison Sentence for Insider Trading, Lawyer Goes to Prison Over Rothstein Fraud, and Former New Stream Capital Executives Plead Guilty &#8212; Investor Lawyers Blog &#8212; June 14, 2014\" \/>\n<meta name=\"twitter:description\" content=\"NJ Court Orders Former Osiris Partners LLC Principals To Pay Over $55M A state court in New Jersey has ordered the ex-principals of Osiris Partners LLC, &#8212; June 14, 2014\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Hedge Fund Fraud News: Ex-Osiris Partners Principals Must Pay $55M, Ex-SAC Manager Gets Prison Sentence for Insider Trading, Lawyer Goes to Prison Over Rothstein Fraud, and Former New Stream Capital Executives Plead Guilty &#8212; 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June 14, 2014","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/hedge-fund-fraud-news-exosiris\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/hedge-fund-fraud-news-exosiris\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Hedge Fund Fraud News: Ex-Osiris Partners Principals Must Pay $55M, Ex-SAC Manager Gets Prison Sentence for Insider Trading, Lawyer Goes to Prison Over Rothstein Fraud, and Former New Stream Capital Executives Plead Guilty","datePublished":"2014-06-14T22:17:53+00:00","dateModified":"2022-03-11T19:12:07+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/hedge-fund-fraud-news-exosiris\/"},"wordCount":757,"articleSection":["Hedge Funds"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/hedge-fund-fraud-news-exosiris\/","url":"https:\/\/www.investorlawyers.com\/blog\/hedge-fund-fraud-news-exosiris\/","name":"Hedge Fund Fraud News: Ex-Osiris Partners Principals Must Pay $55M, Ex-SAC Manager Gets Prison Sentence for Insider Trading, Lawyer Goes to Prison Over Rothstein Fraud, and Former New Stream Capital Executives Plead Guilty &#8212; 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