Former New York investment adviser charged with 99 counts of fraud

A former broker in New York City has been charged with orchestrating massive fraud.

Since 2011, Dean Mustaphalli caused 58 New York investors to invest a total of more than $11 million in his hedge fund. About $10 million of that money was lost when Mustaphalli engaged in a highly risky trading strategy that was not consistent with his clients’ investment profiles and objectives, according to a criminal indictment unsealed on Wednesday.

In 2017, then-Attorney General Eric Schneiderman sought…

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