Former Hedge Fund Exec Pleads Guilty In Pharma Stock Scandal
The Securities and Exchange Commission sued Wednesday Douglas Schmidt, former chief operating officer of Connecticut-based Durus Capital Management. He has since admitted to making false statements to the agency in February 2003 and March 2003.
Schmidt now faces up to 20 years in prison, according to a U.S. Attorney Connecticut.
When Schmidt’s scheme was exposed, the stock of...
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