<p>NYU Whiz Kid Who Scammed Investors Out on Bond</p>
<p>NEW YORK (AP) – A former New York University student convicted of scamming sophisticated investors was released on bond Friday.</p>
<p>U.S. District Judge Janet Bond Arterton ordered Hakan Yalincak released on $1.1 million bond until his sentencing Feb. 14.</p>
<p>"This has been a learning experience,‘’ Yalincak told The Associated Press.</p>
<p>Yalincak, 22, pleaded guilty in June to bank and wire fraud. He admitted he used his student ID and expertly forged documents to pose as the heir to a billionaire Turkish family and trick investors into pouring millions into a nonexistent hedge fund.</p>
<p>Prosecutors say Yalincak charmed his way into the exclusive world of Greenwich high finance, shuttled counterfeit checks across the world and brokered deals with a Kuwaiti financier. Yalincak’s fund, the Daedalus Capital Relative Fund I, wasn’t a legitimate investment and prosecutors said investors lost more than $7 million, which Yalincak said is overstated.</p>
<p>Yalincak had been denied bail three times, but sought his release again because he says his mother, who also pleaded guilty in connection with the scheme, is being treated for what appears to be cancer.</p>
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