Yesterday, the mother of a particularly cunning NYU student who swindled $7.5 million from investors in a phony hedge fund was sentenced to serve two years jail time for helping her son pull off the scam. But Ayfer Yalincak, 52, had already served 15 months, and will probably only serve an additional 5 1/2 months, thanks to good behavior. We guess that whole my-son-beat-me-with-a-tree-branch defense was pretty persuasive.
Here’s how the devilish duo pulled it off: Yalincak, by her own admission, posed as the matriarch of a wealthy Turkish family to convince several investors to buy into 22-year-old Hakan’s non-existent Greenwich hedge fund. His sister, Hale Yalincak, 19, describes him as “very weird.” In determining her sentence, the judge considered Ayfer’s past conviction for posing as a doctor in Indiana and the $500,000 credit-card fraud she pulled off in cahoots with her then-adolescent son. Well, Hakan is certainly quite the smarty-pants, NYU or no NYU.