{"id":1499,"date":"2014-08-14T18:11:40","date_gmt":"2014-08-14T18:11:40","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/08\/former_mit_professor_and_his_s"},"modified":"2022-03-11T13:24:10","modified_gmt":"2022-03-11T19:24:10","slug":"former-mit-professor-and-his-s","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/former-mit-professor-and-his-s\/","title":{"rendered":"Former MIT Professor and His Son Plead Guilty to $140M Hedge Fund Fraud"},"content":{"rendered":"<p>\t\t\t\tGabriel Bitran, an ex- Massachusetts Institute of Technology professor, and his son Marco Bitran have pled guilty to <a href=\"https:\/\/www.stockbroker-fraud.com\">securities fraud <\/a>charges accusing them of bilking investors of $140 million. Through their company, GMP Capital Management, the  father and son placed investor money in hedge funds linked to Bernard Madoff, who ran the Ponzi scam that defrauded clients of billions of dollars. <\/p>\n<p>According to prosecutors, from 2005 to 2011 Bitran and Marco collected $500 million from investors by promising to invest their funds using an original complex mathematical trading model. The money was supposed to go into exchange-traded funds and other securities but were instead placed in hedge funds. <\/p>\n<p>When the financial crisis of 2008 happened, a number of the hedge funds got into trouble. Some of their investors lost up to 75% of their principal.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/former-mit-professor-and-his-s\/\"  title=\"Continue Reading Former MIT Professor and His Son Plead Guilty to $140M Hedge Fund Fraud\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Gabriel Bitran, an ex- Massachusetts Institute of Technology professor, and his son Marco Bitran have pled guilty to securities fraud charges accusing them of bilking investors of $140 million. Through their company, GMP Capital Management, the father and son placed investor money in hedge funds linked to Bernard Madoff, who ran the Ponzi scam that [&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":[3748,3741],"tags":[],"class_list":["post-1499","post","type-post","status-publish","format-standard","hentry","category-hedge-funds","category-securities-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Former MIT Professor and His Son Plead Guilty to $140M Hedge Fund Fraud &#8212; Investor Lawyers Blog &#8212; August 14, 2014<\/title>\n<meta name=\"description\" content=\"Gabriel Bitran, an ex- Massachusetts Institute of Technology professor, and his son Marco Bitran have pled guilty to securities fraud charges accusing &#8212; August 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\/former-mit-professor-and-his-s\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Former MIT Professor and His Son Plead Guilty to $140M Hedge Fund Fraud &#8212; Investor Lawyers Blog &#8212; August 14, 2014\" \/>\n<meta name=\"twitter:description\" content=\"Gabriel Bitran, an ex- Massachusetts Institute of Technology professor, and his son Marco Bitran have pled guilty to securities fraud charges accusing &#8212; August 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=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Former MIT Professor and His Son Plead Guilty to $140M Hedge Fund Fraud &#8212; 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