Fund Manager Pleads Guilty To $7M Swindle

Law360, New York (October 22, 2008, 12:00 AM EDT) -- Hedge fund manager Bret A. Grebow could face up to five years in prison after pleading guilty to defrauding investors of more than $7 million through his investment fund HMC International LLC.

Grebow entered the plea earlier this week to Magistrate Judge Ronald L. Ellis of the U.S. District Court for the Southern District of New York.

Sentencing is set for Jan. 22.

Grebow faces a maximum sentence of five years for one count of investment advisor fraud and fines to be determined, based on the...
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