Hedge Funds

FBI seeking hedge fund fraudster O'Neill


The Federal Bureau of Investigation is seeking Donald O'Neill, formerly president and owner of Florida-based hedge fund groups Frecom, Momentum and Orca, on charges that he swindled clients out of $13.7 million. He has been charged with 10 counts of mail fraud, 10 counts of wire fraud and 20 counts of money laundering in connection with fraudulent foreign currency investments carried out through several purported hedge funds.