Fund Manager Accused Of Fraud Out On $1M Bail

Law360, New York (December 8, 2011, 8:20 PM EST) -- A mutual fund manager arrested for allegedly defrauding investors out of $11 million by lying about his fund's holdings in Facebook Inc. can remain free on $1 million bond, a New York federal judge ruled Thursday.

John A. Mattera, who appeared in a Manhattan courtroom alongside his lawyer, will be subject to electronic monitoring and a 9 p.m. curfew at his Florida home while he awaits trial on four fraud and money laundering charges, U.S. Magistrate Judge Frank Maas said.

Mattera, 50, controlled Praetorian Global Ltd....
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