La Madrid To Pay $7M For Hedge Fund Fraud

Law360, New York (January 12, 2011, 3:48 PM EST) -- Matthew "Beau" La Madrid will be forced to shell out $7 million and forfeit a number of properties in Colorado after pleading guilty to a $30 million hedge fund fraud with his brother through their investment company Plus Money Inc.

Judge William Q. Hayes issued a preliminary order Thursday in the U.S. District Court for the Southern District of California instructing La Madrid to hand over the money and properties he acquired in the fraud scheme that raised millions from more than 300 investors.

La Madrid...
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