Facebook Fraud Fund Manager Expected To Plead Guilty

Law360, New York (October 1, 2012, 6:41 PM EDT) -- A fund manager has signed a plea agreement and is expected to plead guilty Tuesday to charges that he defrauded investors out of $11 million by lying about his fund's holdings in Facebook Inc.

John A. Mattera is scheduled to enter a guilty plea before U.S. District Judge Richard Sullivan on Tuesday morning in New York. Mattera has agreed to plead guilty to all of the four counts he faces, according to his lawyer, Carl F. Schoeppl of Schoeppl & Burke PA.

“He's already signed a...
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