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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.