Fund Manager Gets 5 Years In $20M Investment Plot

Law360, New York (June 21, 2010, 7:52 PM EDT) -- A federal judge has sentenced the former manager of hedge fund A.R. Capital Group Inc. — who had previously run a furniture store — to nearly five years in prison for defrauding investors out of about $20 million and wiring most of the money back to Ukraine.

Judge Denise L. Cote of the U.S. District Court for the Southern District of New York on Friday sentenced Daniel Ledven to 57 months in prison, and the hedge fund's owner Alan Fishman, who used to run a New...
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