Westgate Fraudster Asks To Vacate 40-Year Sentence

Law360, New York (June 7, 2011, 2:03 PM EDT) -- An ex-hedge fund manager who pled guilty to defrauding investors of millions asked a New York federal judge Tuesday to vacate his 40-year prison sentence, saying he was the victim of an ineffective lawyer who advised him to accept an unjust deal.

James Nicholson pled guilty in December 2009 to mail, securities and investment adviser fraud for running his fund like a Ponzi scheme that, according to the court, lost investors $140 million. The case culminated in an October 2010 hearing in which Nicholson's victims asked...
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