Black Diamond Fraudster Seeks To Dodge Restitution

Law360, New York (December 7, 2011, 7:41 PM EST) -- An ex-hedge fund manager convicted of funneling funds into the Black Diamond Capital Solutions LLC $35 million Ponzi scheme asked a North Carolina federal court on Monday to let him off the hook for restitution, claiming the money was all his wife had to take care of their two young sons.

“Those funds in question represent my families [sic] only source of income,” Roy E. Scarboro wrote in his request for exemption from the remainder of the $682,663.62 restitution. “They are being used to feed my...
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