Rosalind Herman was convicted by a jury on charges of investment adviser fraud, tax fraud, wire fraud and conspiracy. She was convicted in connection with a $1.3 million scheme that defrauded investors. Herman and her business partner, Gregg Caplitz, owned and controlled companies in Massachusetts and Nevada providing investment advice and insurance products to individual investors. Between 2008 and 2012 the two solicited investments in a new hedge fund from existing clients. The supposed hedge fund was controlled and owned by Herman, but the fund did not actually exist, and the funds received from investors were used for personal expenses. The funds totaled $1.3 million from a dozen investors. Herman’s tax fraud charges were brought as a result of her failure to file accurate tax returns for herself and her companies. Caplitz previously pleaded guilty to fraud and tax charges and testified against Herman at trial.
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