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Mother Blames Son for Hedge Fraud Scam

Thursday, February 22, 2007 6:20:48 PM
By JOHN CHRISTOFFERSEN

NEW HAVEN, Conn. (AP) - A woman who pleaded guilty to helping recruit investors in a multimillion-dollar hedge fund scam says she got involved only because she had been "bent to the will" of her college-age son, who engineered the fraud.

In court papers filed Thursday seeking leniency, an attorney for Ayferafet Yalincak described her son Hakan as "a difficult child, an uncontrollable adolescent and a domineering young man, monstrous at times, who held the family in the grip of terror."

Prosecutors say Hakan Yalincak charmed his way into the exclusive world of Greenwich high finance by posing as an heir to a wealthy Turkish family, shuttled counterfeit checks across the world and brokered deals with a Kuwaiti financier. Prosecutors said investors lost more than $7 million in the fake fund, an amount he contests.


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