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Math Student Indicted In $43M Scam (moved from ATSNN)

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posted on May, 7 2005 @ 09:06 AM
Math student Hakan Yalincak was recently charged with bank fraud after depositing bogus cashiers checks. He attempted to move the money around in order to avoid being caught. Obviously he was not successful.
Hakan Yalincak, 21, also faces civil charges that he convinced two investors to sink $2.8 million into a nonexistent hedge fund and spent the money on luxury items and university donations.

He wept in court as U.S. Magistrate Judge Joan Margolis ordered him jailed until a detention hearing Thursday. "I have a graduation on Wednesday," Yalincak said.

Please visit the link provided for the complete story.

What was he thinking? Maybe you can hide a thousand dollars. But $43M???? Was his concern the trouble he was in? No. His concern was graduation. I'm sorry kid but I don't think you will have much use for your degree anymore.

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