News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

Wayside Furniture

Hennes Paynter Communications

Don Drumm Studios


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Crime and Courts


Akron-area hedge-fund manager admits fraud
Davian pleads guilty toe money launders and fraud, will be sentenced July 2
by WKSU's M.L. SCHULTZE


Web Editor
M.L. Schultze
 
In The Region:

A 34-year-old Copley man who was once a heavily promoted hedge- fund manager has admitted he helped steal $1.8 million through a series of funds he set up. 

Anthony Davian pleaded guilty in federal court today (Tuesday) to 14 counts of securities, mail and wire fraud and money laundering.

According to the U.S. attorney’s office, Davian lured people into putting money into funds including Davian Capital, the Cleveland Precious Metals Fund and Rubber City Gravity from July 2008 to July of last year. He used phony client accounts and claims that he was managing hundreds of millions of dollars that were paying investors 20 percent or more in returns. 

Instead, the money was going toward his personal expenses and lifestyle, and to pay off some old investors.

Davian is to be sentenced July 2.

Click here for a Plain Dealer story outlining Davian's operation.

Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

Portman predicts McDonald's confirmation, but says it won't be easy
I sent the following note to Senator Blumenthal after reading commentary from yesterday's hearing: Senator, You certainly have the right to ask Mr. McDonald que...

Seven minutes changed everything, but what changed Ashford Thompson?
He shot the guy four times in the head. I have never been that drunk or mad, and I have been through it. Shoot a guy once is bad, maybe a mistake, shoot a guy f...

First cricket farm in the U.S. opens in Youngstown
I am interested in cricket flour to replace soy flour in a low carbohydrate diet. As soon as you have cricket flour available for the average person, please le...

New process starts digesting sludge in Wooster
Awesome! When do our sewage rates decrease accordingly?

Akron's Chapel Hill Mall in foreclosure
Not a surprise. Between the shoplifting, gangs and violence that goes on up there it is no wonder that no one feels safe to shop at Chapel Hill. They have sca...

Ohio launches investigation into at least one Concept charter school
I worked at Noble Academy Cleveland as admin assistant and enrolment coordinator for 6 years, I know this is so valid and true and can provide staff names and p...

Crisis looms in filling aviation industry jobs in Ohio and the nation
I listened to this story yesterday morning on the radio and just want to add this comment. My son went to school to train as an air traffic controller, and gra...

Cuyahoga Valley National Park considers fire to fight invasives
I'm for the controlled burn. There are not enough people (myself included) who volunteer for the removal of invasive plant species. Therefore, another solution ...

Copyright © 2014 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University