Chicago Investment Firm Head Pleads Guilty To Adviser Fraud

Law360 (August 14, 2019, 4:21 PM EDT) -- A Chicago-area investment adviser pled guilty on Wednesday to investment adviser fraud for his role in a scheme prosecutors say allowed him to allocate profitable trades to benefit himself and his family, at the expense of his firm's clients.

Charles J. Dushek, 75, the former president of Capital Management Associates Inc., still faces nine counts of securities fraud and will go to trial in September. He has pled guilty to the 10th count of the indictment, which carries a maximum penalty of five years in prison and a maximum fine of $250,000.

Prosecutors told the court in a hearing Wednesday that...

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