Wednesday, February 27, 2008

Hedge Fund Founder Gets 5 Years

A press release of the U.S. Attorney's Office for the Central District of California states, "The founder of an investment firm that operated a hedge fund called the GLT Venture Fund was sentenced today to the statutory maximum penalty of 60 months in federal prison for lying to investors about his fraudulent operation that resulted in approximately $6 million in losses to investors."

(esp)

http://lawprofessors.typepad.com/whitecollarcrime_blog/2008/02/hedge-fund-foun.html

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