Infinity Q founder sentenced to 15 years for fraud scheme
By 
Adrianne Appel2023-04-12T21:48:00
The former chief investment officer and founder of investment adviser Infinity Q Capital Management was sentenced to 15 years in prison and ordered to forfeit $22 million for artificially inflating the values of certain derivatives to defraud investors.
James Velissaris employed a small staff that included a chief compliance and risk officer accused of assisting in his fraud, the Department of Justice noted in its press release Monday. The CCO, Scott Lindell, was charged by the Securities and Exchange Commission (SEC) regarding his alleged role in September.
The actions of Velissaris inflated the value of Infinity Q funds by more than $1 billion, the SEC said.
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