No Jail Time For Hedge Fund Manager In NY Pension Scandal

Law360, New York (September 28, 2012, 7:25 PM EDT) -- A New York state judge gave no jail time to a former hedge fund manager who has already paid $12 million in penalties for his role in a wide-ranging pay-to-play scandal at the state's largest pension fund, saying his sentence was lighter because he came forward early to help prosecutors.

Judge Lewis Bart Stone said during a hearing that Barrett Wissman, a former manager of Texas-based hedge fund Hunt Financial Ventures, had earned a more lenient sentence by agreeing to help prosecutors in January 2009 with...
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