Forte Ponzi Receiver Points To Investor Red Flags

Law360, New York (March 17, 2010, 7:01 PM EDT) -- The receiver appointed in the regulatory actions against $80 million Ponzi schemer Joseph S. Forte has released a list of dubious circumstances that should have tipped off investors, including that the fund never had a losing quarter regardless of market conditions.

Each quarter Joseph Forte LP reported unrealistic annualized rates of return of between 18 percent and 38 percent, receiver Marion A. Hecht said Tuesday in the U.S. District Court for the Eastern District of Pennsylvania.

Hecht is the receiver in the U.S. Securities and Exchange...
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