{"id":1684,"date":"2015-07-31T10:44:00","date_gmt":"2015-07-31T10:44:00","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/07\/exhead_of_chicago_investment_f"},"modified":"2022-03-22T14:26:29","modified_gmt":"2022-03-22T19:26:29","slug":"exhead-of-chicago-investment-f","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/exhead-of-chicago-investment-f\/","title":{"rendered":"Ex-Head of Chicago Investment Firm Gets 6-Year Sentence for $9M Ponzi Scam"},"content":{"rendered":"

\t\t\t\tNeal Goyal, the former head of Caldera Investment Group and Blue Blue Horizon Asset Management, has been sentenced to six years behind bars for bilking over 40 investors of more than $9 million in a Ponzi scam<\/a>. Prosecutors contend that over the eight years that the 34-year-old ran the scam, pretending to be a hedge fund manager, he made just limited trades and on only some of the funds. The majority of his victims were family and friends from his Hindu community.<\/p>\n

Goyal told investors that the four private funds he managed would employ a long-short trading strategy. Instead, he ran a Ponzi scam, paying off earlier investors with new investors’ money. <\/p>\n

He would go on to use over $2 million of their funds on his lavish lifestyle, including a $1.5 million home, luxury car leases, travel, and expensive dinners. He also put some of the money into his wife’s business ventures and his father-in-law’s failing tavern. He took his company staff on an all-expenses-paid vacation to the Dominican Republic. The group trip included a yacht and butler service at a five-star resort.
\n Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Neal Goyal, the former head of Caldera Investment Group and Blue Blue Horizon Asset Management, has been sentenced to six years behind bars for bilking over 40 investors of more than $9 million in a Ponzi scam. Prosecutors contend that over the eight years that the 34-year-old ran the scam, pretending to be a hedge […]<\/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":[3792],"tags":[],"class_list":["post-1684","post","type-post","status-publish","format-standard","hentry","category-ponzi-scams"],"yoast_head":"\nEx-Head of Chicago Investment Firm Gets 6-Year Sentence for $9M Ponzi Scam — Investor Lawyers Blog — July 31, 2015<\/title>\n<meta name=\"description\" content=\"Neal Goyal, the former head of Caldera Investment Group and Blue Blue Horizon Asset Management, has been sentenced to six years behind bars for bilking — July 31, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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