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Connecticut investor sentenced to 7 years in prison after swindling $13.5M from friends, family
By Zach MurdockA Connecticut investment fund founder has been sentenced to more than 7 years in prison for swindling his own friends, family and others in Chicago out of $13.5 million in phony investments.
Alvin Wilkinson, 61, of Sharon, pleaded guilty this year to one count of wire fraud and was sentenced Thursday to 88 months in prison by U.S. District Judge Sharon Johnson Coleman in Illinois.
Wilkinson, a previous director of the Chicago Board Options Exchange, founded Sharon-based Chicago Index Partners LP and Wilkinson Financial Opportunity Fund LP and convinced at least 30 friends, family and colleagues to invest with him, according to court records.
He told his victims he would trade a portfolio that included options and futures on their behalf that would make money regardless of market conditions.
Read more: https://www.courant.com/breaking-news/hc-br-connecticut-investor-wire-fraud-sentenced-20191220-ws7ps3ztj5b45fp5ti3ykdrhyu-story.html