2 Fla. Hedge Fund Managers Cop To Petters Fraud

Law360, New York (April 21, 2011, 11:23 PM EDT) -- Two Florida hedge fund managers admitted Thursday in a Minnesota federal court to lying to investors regarding investments they made in the convicted Ponzi schemer Thomas J. Petters' company.

Bruce Francis Prevost and David William Harrold pled guilty to four counts of securities fraud a day after they were indicted along with a Petters business associate from Florida, Frank Elroy Vennes, who was a conduit for the Florida hedge fund managers and Petters and who was charged with money laundering.

Prevost and Harrold, who ran a...
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