Hedge Fund Fraudster Gets 5 Years For $18M Scam

Law360, New York (November 18, 2011, 7:37 PM EST) -- A cold caller for bogus New York-based hedge fund AR Capital Global Fund LP was sentenced Friday to more than five years in prison for duping elderly investors into giving him and his co-conspirators more than $18 million.

William Shternfeld, 39, who pled guilty to conspiring to commit wire and mail fraud fraud in April, is the seventh person to be sentenced in connection to the hedge fund scheme. U.S. District Judge Sidney H. Stein ordered him to spend 63 months in prison with three years...
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