Investment Pro Lied To Raise $50M For Funds, Feds Say

Law360, New York (January 12, 2021, 6:07 PM EST) -- An investment pro was arrested Tuesday after the Manhattan U.S. attorney's office charged him with fraud, accusing him of duping clients into backing two real estate funds to the tune of $50 million with false promises while taking $7 million for himself and his company.

Eric Malley, 50, of New Canaan, Connecticut, whose LinkedIn page says he attended Harvard Business School from 2012 to 2014, appeared before U.S. Magistrate Judge Ona T. Wang and was released on $1 million bail.

A criminal complaint charging him with securities fraud and wire fraud says he fleeced investors who backed funds offered by his...

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