Fund Boss' Conviction Restored In $15M Fraud Case

Law360, New York (March 5, 2009, 12:00 AM EST) -- A federal appeals court has reinstated a jury verdict against a venture capital fund manager found guilty of conspiring to swindle investors out of $15 million, overturning a district judge's decision to vacate the verdict and acquit the woman.

In its ruling Wednesday, the U.S. Court of Appeals for the Fourth Circuit sided with federal prosecutors and ruled that substantial evidence on the record supported the jury's verdict that Mayflower Venture Capital fund co-manager Diane Pace acted with intent to defraud investors.

The federal government appealed...
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