New York Halts $5M Hedge Fund Scheme Targeting Elderly

  • Advisor, Dean S. Mustaphalli, owner and operator of Mustaphalli Capital Partners Fund LP, was charged with operating a securities fraud scheme that involved targeting investors who were elderly and at or near retirement

  • In total, Mustaphalli allegedly fraudulently solicited his former clients to invest over $12 million and lost over $11 million of their money.

  • According to the indictment,  Mustaphalli’s scheme brought in $5M+ from 22 victims between June 2014 and March 2017 and a separate civil lawsuit alleges that he fraudulently solicited an additional $7 million from prior investors between 2012 and 2014

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