La Madrid Gets 10 Years For $30M Hedge Fund Fraud

Law360, New York (July 29, 2011, 1:47 PM EDT) -- Mathew "Beau" La Madrid was sentenced Thursday to 10 years in prison after pleading guilty in California to running a $30 million hedge fund fraud with his brother through their investment company Plus Money Inc.

La Madrid, 44, was also ordered to pay $23.8 million in restitution to the more than 300 investors he allegedly scammed. In January, he was directed to forfeit three condominiums in Denver and various other Colorado properties he acquired in the fraud scheme.

La Madrid, president and treasurer of Plus Money...
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