Hedge Fund Manager Gets 5 Years For Fraud

Law360, New York (February 26, 2008, 12:00 AM EST) -- A former California hedge fund manager who federal authorities say bilked his clients out of about $6 million was sentenced Monday to five years in federal prison for securities fraud, the U.S. Department of Justice said.

Keith Gilabert, 33, of Valencia, Calif., who operated a company called Capital Management Group, pleaded guilty in 2006 to one count of conspiracy, according to the U.S. Attorney's Office for the Central District of California.

U.S. District Judge Stephen V. Wilson also ordered Gilabert on Monday to pay victims just...
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