Business

NJ Woman Scams $450K by Using Soros’ Name in Ponzi Scheme

NJ Woman Scams $450K by Using Soros NameLet’s say someone offered you the opportunity to invest in a hedge fund managed by George Soros. Would you say no?

Wait. Let’s start over.

Let’s say you didn’t know Soros the way Glenn Beck does and you only knew him as the multibillionaire philanthropist who started the Quantum Fund with Jim Rogers.

If someone offered you the opportunity to have your assets managed by a world famous market speculator, would you turn it down?

Probably not (be honest): it’s what a New Jersey woman bet on when she launched her Ponzi scheme back in 2005.

“Prosecutors in Bergen County are pressing criminal charges against a woman who they say [solicited] investors into a hedge fund that she claimed was handled by legendary hedge fund manager, George Soros,” Halah Touryalai writes for Forbes.

NJ Woman Scams $450K by Using Soros NameDunya Predovan (Image courtesy: New Jersey 101.5)

“She collected about $450,000 from investors telling them that the hedge fund was allocating assets in the pharmaceutical sector. The woman, Dunya Predovan, apparently told the investors that she had worked for Soros in the 1980s,” the report adds.

Predovan has never worked for Soros and he claims he has never heard of her, according to New Jersey prosecutors.

“Soros told the officials that he…was not aware of the existence of the hedge fund for which she was raising assets,” Touryalai reports, “You might recall, Soros exited from the hedge fund industry last July when he announced that he would no longer manage outside money.”

The imposter is being held on $100,000 bail.

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