Readers Weigh in on Hedgefund Fraud

A hedge fund owned by Winnetka resident Clayton Cohn, 26, a U.S. Marine Corps veteran, was shut down by the Securities and Exchange Commission earlier this month. Cohn allegedly participated in hedge fund fraud that targeted current and former military service members, an article by Business Insider states. 

According to the SEC, Cohn allegedly spent the money on investments in a 3-D adult film company and a hair extensions sales company, as well as a $10,000 per-month mansion in Los Angeles, a luxury sports car and "extravagant tabs" at high-end night clubs. 

Many Patch readers have weighed in on the alleged fraud. 

"He grew up surrounded by everything — educated and professional parents, highly successful family business, best education and every advantage a child should have in a rarified atmosphere of the 1%-ers," commenter Danni wrote. "Why did he veer off into a Madoff-like life? Is prison next? So sad and shocking." 

User Fred responded to Danni. 

"'Why did he veer off into a Madoff-like life?' Money backed by a childish, corrupt, thinks-he-knows-better-than-others mind, he wrote. "Just my guess. Sick, isn't he?"

Patch user Margaret Mcintyer-Farina noted that Cohn betrayed veteran's trust with his non-profit that teaches veterans and active military members  financial literacy.

"I have volunteered at the Navy Marine Corps Relief Society and know of the need for financial literacy among our military, especially among enlisted folks," she wrote. "This group would be vulnerable to exploitation, particularly because Marines trust Marines--almost everyone trusts Marines. If this scam is true, and Cohn was actually a Marine, this is a betrayal of gargantuan proportions. I hope he just fabricated his face book profile as part of his false persona and lack of integrity. If he is really a former Marine, he will have a lot of 'xplainin" to do..."

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