Fredrick D. Scott

Fredrick D. Scott African-American financial consultant, private equity investor, venture capitalist, and motivational speaker.[1] In 2010 he was named one of Ebony magazine′s "Top 30 Under 30", described as "the youngest African-American hedge fund founder in history".[2] According to the Ebony article, in 2008 Scott founded Acacia Conglomerate, Inc., and the following year founded ACI Capital Group. Along with his wife Samira Scott, he also maintained the Samira and Frederick Scott Charitable Fund.[3] His investments focused on African-American businesses. Closing down ACI in April 2013, he launched a new firm called Fredrick D. Scott LLC.[4]

On June 4, 2013, the 29-year-old Fredrick Douglas Scott was arraigned as being a fraud by the U.S. District Court for the Eastern District of New York.[5] He is accused of stealing $750,000 to $3.5 million from clients via his hedge fund business.[4][6][7][8][9]

References

  1. ↑ Sands, Darren (April 15, 2013). "Fredrick D. Scott Starts Investment Firm For African American Institutions". Black Enterprise Magazine. Retrieved 14 May 2013.
  2. ↑ "Top 30 Under 30". Ebony Magazine. May 2010. p. 74. Retrieved 30 May 2013.
  3. ↑ Editorial Staff (9 May 2013). "Investor donates funds to Eagle Academy and NCMM". New York Amsterdam News. Archived from the original on 6 July 2013. Retrieved 14 May 2013.
  4. 1 2 Carney, John (June 5, 2013). "Hedge Fund Boss Preying on African-Americans Arrested". NetNet. CNBC. Retrieved 13 June 2013.
  5. ↑ "Chief Executive Officer Of ACI Capital Group Charged With Wire Fraud", The United States Attorney's Office, Eastern District of New York.
  6. ↑ Cabrera, Claudio E. (June 6, 2013). "Black Hedge Fund Manager Is a Fraud, Prosecutors Say". Black Enterprise. Retrieved 13 June 2013.
  7. ↑ Marzulli, John (June 4, 2013). "29-year-old 'financial wizard' fleeced investors out of at least $750,000: federal prosecutors". Daily News. Retrieved 13 June 2013.
  8. ↑ Darren Sands, "In Hedge Fund Manager’s Last Hours of Freedom, an Attempt at One Last Victim", Black Enterprise, June 11, 2013.
  9. ↑ "The Black Bernie Madoff - Ebony's "Top 30 Under 30" Fredrick Douglas Scott Arrested for Investment Scheme", The Urban Politico, June 17, 2013.


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