‘Youngest African-American Hedge Fund Founder in History’ Frederick Douglas Scott Gets Five Years for Fraud

LINKEDIN Manhattan fraudster Fredrick D. Scott has been sentenced to 63 months in prison.
LINKEDIN
Manhattan fraudster Fredrick D. Scott has been sentenced to 63 months in prison.

A Manhattan fraudster who smooth-talked his victims into believing he was the “youngest African-American hedge fund founder in history,” was sentenced 63 months in prison by a federal judge who also blasted the Bureau of Prisons for allowing the con man to teach a course on finance to felllow inmates.

Frederick Douglas Scott’s spiel was one big lie which he continued trying to spin in Brooklyn Federal Court to the incredulous judge.

Scott argued that he was a “nerd,” a “genius,” played the race card and even blamed a victim for lying about her net worth.

Federal Judge Roslynn Mauskopf responded by calling Scott a “narcisstistic, self-promoting predator” who had to be stopped and deterred from victimizing others.

“You continue your con in front of me,” Mauskopf said. “The fact that the Bureau of Prisons allowed a financial fraudster to teach a financial course is a bit mind-boggling.”

Scott had hired a public relations firm to portray him as a rags-to-riches financial wizard who overcame homelessness to become a millionaire and guest speaker at Rev. Al Sharpton’s National Action Network, and socializing with Knicks basketballl great Patrick Ewing and city Councilman Jumaane Williams.

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Source: New York Daily News |