The book paints a radically different picture of Hays than the one that has come out in federal court this month, where federal prosecutors now say he was the operator of a Ponzi scheme and a trader who lost money 20 out of 24 months. The expanding investigation has found 75 people who lost at least $25 million entrusting their money to Hays, prosecutors say.
The world Hays built held the trappings of a market wizard: his house, set in a wooded section of Rosemount; his reputation among day traders, built in part by the 33-page "Millionaire Traders" profile, and his $3 million, 64-foot Viking cabin cruiser.
He would trade the S&P500 (minis) for an hour a day in the morning, and supposedly generate a 3% monthly return to investors. Uh huh.