A scandal rocks the polo set
The complaint alleges that Young pilfered at least $23 million from investors to use for his own purposes, in addition to exploiting "some investor monies to pay other investors in the nature of a Ponzi scheme true religion outlet online." The complaint also claims that Young routinely sent out false account statements to investors, his accountants, and even to regulators.
The SEC further accuses the Youngs of using the money to underwrite their lavish lifestyle, to "pay personal expenses related to horse ownership and racing, construction, boats, limousines, chartered aircraft, and other luxuries."
That would include their Chester County property, worth an estimated $4 million ergo carrier online, and a $2.1 million Palm Beach house bought in 2006, as well as a $1.3 million house on Maine's coast. Along with Young's wife casque audio beats, Dixon Stroud is also named as a relief defendant in the complaint http://www.chanluwraps.com. (A relief defendant is the beneficiary of a crime but not necessarily a participant in it.)
The strange thing is that the unmasking of Young barely made the papers perhaps because the alleged fraud was small by Bernie Madoff standards. (What isn't microsoft office 2010 product key?) But more likely, the quiet that attended the collapse of Young's hedge fund was indicative of how the cloistered world that Young infiltrated operates by its own set of rules. Losing $1 million is problematic to some of Young's victims, but tarnishing one's good name is a worse fate.
As social ascents go, Young had flown as high as Icarus. Coming from Fitzgerald windows 7 ultimate product key, Ga., where mobilehome manufacturing and peanut blanching reign as top industries chan luu bracelets, he was able to seduce people who had asset managers before most folks get their learner's permits. In succumbing to Young's charms hermes bracelets, however, these aristocrats proved that they were as common as every other victim.
In his victims' defense, Acorn was registered with the SEC as an investment adviser. Yet had its investors performed due diligence on Young, they would have certainly uncovered the holes in his bio.
For example http://www.2013lululemononline.com, Fortune's monthslong investigation culminating in a facetoface interview with Young has revealed that he had no experience managing money before launching his hedge fund lululemon. Nor did he have an MBA or even an undergraduate college degree. (Records show he completed one year at Georgia's Reinhardt College in 1990, then two years at Georgia State University casque monster, from 1993 to 1995, with no degree awarded.) Though he sported a Choate Rosemary Hall sweatshirt, the school has no record of him. Even the origin of the money he used to launch his polo career is questionable.
To understand how Donald Anthony Walker Young, now 38, was able to pull the cashmere over the eyes of Dixon Stroud and George Strawbridge, you need to understand the path he took from Georgia to Chester County.
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