Fund Ex-Manager Nabbed For Alleged $3.5M Fraud

Law360, New York (January 18, 2011, 7:28 PM EST) -- Federal prosecutors have charged a former Chicago hedge fund manager with perpetrating an investment fraud scheme in which he allegedly swindled more than $3.5 million from 48 individuals who invested in funds he claimed to operate.

James Brandolino was taken into federal custody on Tuesday after turning himself in for allegedly engaging in the scheme, the U.S. Department of Justice announced.

Brandolino, 42, has been charged with mail fraud in a criminal complaint filed in the U.S. District Court for the Northern District of Illinois, according...
To view the full article, register now.