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US: Peter Kambolin sentenced to 2 years for FX and Crypto scam
Peter Kambolin, a 48-year-old U.S.-Russian national and CEO of Systematic Alpha Management LLC (SAM), was sentenced to two years in prison followed by 18 months of home confinement. He was also ordered to forfeit about $1.6 million for conducting a “cherry-picking” scheme. This scheme involved misappropriating profitable trades for himself and assigning losses to his investors. Kambolin’s firm, established in 2007, managed over $720 million in assets by 2011. From January 2019 to November 2021, he engaged in this fraudulent activity. He was a commodity trading advisor and commodity pool operator at the time. He ... (full story)