Hedge Fund Manager Admits To $6M Ponzi Scheme

Law360, New York (March 16, 2012, 4:22 PM EDT) -- Brian Kim, the founder of New York hedge fund Liquid Capital Management LLC, pled guilty Friday to grand larceny in connection to his alleged $6 million Ponzi scheme that claimed 45 victims.

Kim, 36, admitted to the charges prosecutors brought against him before New York Supreme Court Judge Charles Solomon. He is scheduled to be sentenced April 20.

The hedge fund manager also pled guilty to stealing $435,000 from the Christadora House, a condominium complex where he lived, and to bail jumping and passport fraud, according...
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