{"id":6291,"date":"2018-05-16T19:40:31","date_gmt":"2018-05-16T19:40:31","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6291"},"modified":"2018-05-16T19:40:31","modified_gmt":"2018-05-16T19:40:31","slug":"gerova-financial-group-chairman-and-others-plead-guilty","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/gerova-financial-group-chairman-and-others-plead-guilty\/","title":{"rendered":"Gerova Financial Group Chairman and Others Plead Guilty"},"content":{"rendered":"<br \/>\n<h2><strong>Gerova Financial Group Chairman and Two Others Plead Guilty in Scam to Defraud Native American Tribe and Other Investors<\/strong><\/h2>\n<p>Gary Hirst, Jason Galanis, and Hugh Dunkerley have all pleaded guilty to criminal charges related to a scam to defraud a Native American tribal entity and a number of investment advisory clients. Prosecutors contend that the three men took part in a scam to <a href=\"https:\/\/www.investorlawyers.com\/\">misappropriate bond proceeds<\/a> from securities issued by the\u00a0Wakpamni Lake Community Corporation\u00a0and to use money in asset management firm clients\u2019 accounts to buy the bonds. The clients were then not able to buy or sell the bonds, because the securities were not liquid and did not have a ready secondary market.<\/p>\n<p>Hirst, who pleaded guilty to four fraud counts, now faces up to 35 years in prison and $2.75M in fines. The former chairman of\u00a0Gerova Financial Group Ltd\u00a0was sentenced to 6.5 years in prison last year for defrauding shareholders when he secretly awarded himself and others almost $72M of the reinsurer\u2019s stock. Hirst also had to forfeit approximately $19M.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/gerova-financial-group-chairman-and-others-plead-guilty\/\"  title=\"Continue Reading Gerova Financial Group Chairman and Others Plead Guilty\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Gerova Financial Group Chairman and Two Others Plead Guilty in Scam to Defraud Native American Tribe and Other Investors Gary Hirst, Jason Galanis, and Hugh Dunkerley have all pleaded guilty to criminal charges related to a scam to defraud a Native American tribal entity and a number of investment advisory clients. Prosecutors contend that the [&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":[4096,1],"tags":[2861,3076,2996],"class_list":["post-6291","post","type-post","status-publish","format-standard","hentry","category-gerova-financial","category-uncategorized","tag-gerova-financial","tag-native-american-tribe","tag-scam"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Found Guilty in Scam to Defraud a Native American Tribe | SSEK Law Firm Blog<\/title>\n<meta name=\"description\" content=\"Gary Hirst, Jason Galanis, and Hugh Dunkerley have all pleaded guilty to criminal charges related to a scam to defraud a Native American tribal entity and a number of investment advisory clients.\" \/>\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\/gerova-financial-group-chairman-and-others-plead-guilty\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Found Guilty in Scam to Defraud a Native American Tribe | SSEK Law Firm Blog\" \/>\n<meta name=\"twitter:description\" content=\"Gary Hirst, Jason Galanis, and Hugh Dunkerley have all pleaded guilty to criminal charges related to a scam to defraud a Native American tribal entity and a number of investment advisory clients.\" \/>\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":"Found Guilty in Scam to Defraud a Native American Tribe | SSEK Law Firm Blog","description":"Gary Hirst, Jason Galanis, and Hugh Dunkerley have all pleaded guilty to criminal charges related to a scam to defraud a Native American tribal entity and a number of investment advisory clients.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/gerova-financial-group-chairman-and-others-plead-guilty\/","twitter_card":"summary_large_image","twitter_title":"Found Guilty in Scam to Defraud a Native American Tribe | SSEK Law Firm Blog","twitter_description":"Gary Hirst, Jason Galanis, and Hugh Dunkerley have all pleaded guilty to criminal charges related to a scam to defraud a Native American tribal entity and a number of investment advisory clients.","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; 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