3rd Circ. Affirms Hedge Funder's Conviction In $4M Fraud

Law360 (December 3, 2019, 5:44 PM EST) -- The Third Circuit on Tuesday affirmed the conviction of a New Jersey hedge fund owner who took nearly $4 million of client money and used it to fund an "extravagant lifestyle," saying there was no problem with a judge's decision to let prosecutors introduce copious evidence of that lifestyle at trial.

The panel affirmed the 2018 conviction of Nicholas Lattanzio, the owner and manager of Black Diamond Capital Appreciation Fund LP, over the fate of $3.82 million he received from clients BCM Energy Partners and HEI Investments intended to help secure third-party financing for them.

Evidence of the "extravagant lifestyle" on...

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