Investment Firm Head Gets 11 Years For $30M Fraud

Law360, New York (December 6, 2005, 12:00 AM EST) -- The head of an investment firm that defrauded clients of more than $30 million was sentenced to 11 years in prison and ordered to pay $32 million in restitution amid cries from former clients for a harsher sentence.

Bradford C. Bleidt, head of Allocation Plus Asset Management Co., pled guilty to 115 counts of mail fraud and one count of money laundering, in a plea bargain that carried an 11 year sentence, rather than the customary 14 to 17 years.

During the sentencing, Judge William Young...
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