Ex-Cowboy's Investing Partner Pleads Guilty To $40M Scam

Law360, New York (January 11, 2013, 6:10 PM EST) -- The investment partner of former Dallas Cowboy Michael Kiselak pled guilty Friday in Texas federal court to helping run a $40 million Ponzi scheme through his California-based venture capital firm Gemstar Capital Group Inc.

Jeffrey Sykes, of San Bernardino County, Calif., pled guilty before U.S. District Judge John McBryde to two counts of securities fraud for swindling investors out of money they thought was going to be invested in Treasury notes, according to the U.S. Attorney's Office for the Northern District of Texas.

Prosecutors said Sykes...
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