Cryptocurrency Hedge Fund CIO Pleads Guilty in Federal Court, Stealing Investor Money
Posted on 02/05/2021
Stefan He Qin, age 24, is the Founder of the Virgil Sigma Fund LP (“Virgil Sigma”) and the VQR Multistrategy Fund LP (“VQR”), a pair of cryptocurrency hedge funds in New York, New York, with over $100 million in investments. Stefan He Qin was charged with one count of securities fraud and pled guilty in Manhattan federal court. This charge carries a maximum term of 20 years in prison. For years, Stefan He Qin stole investor money from Virgil Sigma and, in December 2020, Stefan He Qin tried to steal investor money from VQR to pay back his investors in Virgil Sigma. Virgil Sigma and VQR, two multimillion-dollar cryptocurrency investment funds, were revealed to be slush funds for Qin to live his extravagant lifestyle.