Fund Exec In Facebook Fraud Jailed After Guilty Plea

Law360, New York (October 2, 2012, 6:55 PM EDT) -- A former fund executive was deemed a potential flight risk and jailed Tuesday in New York after he pled guilty to charges that he defrauded investors of $13 million by claiming his fund owned Facebook Inc. stock.

U.S. Marshals took John A. Mattera, who chaired the advisory board of a mutual fund called Praetorian Global Ltd., into custody after U.S. District Judge Richard Sullivan ruled the businessman might attempt to flee before his sentencing.

Two marshals had noticeably tanned Fort Lauderdale, Fla.-resident Mattera doff his tie...
To view the full article, register now.

Related

Sections

Case Information

Case Title

Magistrate judge case number: 


Case Number

1:12-cr-00127

Court

New York Southern

Nature of Suit

Date Filed

February 8, 2012

Companies

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.