Hedge Funder Faces $56.8M Fraud Penalty, 5 Years In Prison

By Stewart Bishop ( March 24, 2016, 7:30 PM EDT) -- The founder and portfolio manager of a hedge fund that lost nearly all of its $59.7 million in assets in January is expected to be sentenced to five years in prison and ordered to pay $56.8 million back to investors, a New York federal judge said Thursday....

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