Conspirator In Conn. Ponzi Scheme Gets 14 Months

Law360, New York (January 27, 2012, 10:34 PM EST) -- A federal judge on Friday sentenced a Venezuelan man to 14 months in prison after he admitted to hindering a U.S. Securities and Exchange Commission investigation of a Ponzi scheme by Connecticut hedge fund adviser Francisco Illarramendi.

Juan Carlos Horna Napolitano, 41, was also ordered to forfeit $935,000 he received from Illarramendi to fake documents, and sentenced to two years of supervised release by U.S. District Judge Stefan R. Underhill, according to the U.S. Attorney’s office for the District of Connecticut.

“The U.S. attorney’s office, FBI...
To view the full article, register now.

Related

Sections

Case Information

Case Title

USA v. Garay Marquez


Case Number

3:11-cr-00086

Court

Texas Western

Nature of Suit

Judge

David Briones

Date Filed

January 12, 2011

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.