Fund Manager To Serve 2 Years, Pay $3M For Fraud

Law360, New York (September 8, 2010, 3:48 PM EDT) -- A federal judge has sentenced former investment fund manager Robert Riddle to two years in prison for his role in a scheme that used a pair of hedge funds to rob investors of some $12 million.

Judge John Gleeson of the U.S. District Court for the Eastern District of New York said last Thursday that Riddle, former vice president of sales at the now-defunct Jadis Capital Inc., will also pay $3.3 million in restitution to victims of the scheme.

Riddle, 60, pled guilty in February to...
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