Infinity Q Founder Receives 15-Year Prison Sentence.

James Velissaris, founder and former chief investment officer of Infinity Q Capital Management, has been sentenced to 15 years in prison for his role in a scheme to defraud investors in the company's mutual fund and hedge fund, which purported to have approximately $3 billion in assets under management. Velissaris manipulated the valuation of over-the-counter derivative positions, causing them to be artificially inflated and resulting in substantial losses to investors. He also lied to auditors and obstructed the SEC's investigation. Velissaris has been ordered to pay approximately $22 million in forfeiture.