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Saturday, April 4, 2020

Haligiannis Rearrested as U.S. Preps Extradition

Date: Friday, September 21, 2007
Author: HFN Daily Report

A manager who admitted to orchestrating a multimillion dollar fraud was rearrested by police in Greece.

Angelo Haligiannis had been allowed to remain free while U.S. law enforcement prepared an extradition request. Haligiannis had run his fraudulent Sterling Watters Capital out of New York.

He had pleaded guilty to fraud in a federal court in 2005. Haligiannis admitted lying about his investment performance, according to the SEC. He was indicted in 2004.

The hedge fund had raised a total of $26 million but lost more than $17 million in 2000. In 2003, Sterling Watters had less than $170,000 under management.

Haligiannis, free on bail after the guilty plea, failed to appear at a sentencing hearing in New York in 2006 and was the target of an international manhunt.

Last month, he was tracked down to Greece. Haligiannis tried to fight extradition with the claim he was a naturalized citizen of the country.