20 Years For Hedge Fund Fraud
Filed in archive Hedgetalk by Alex Akesson on January 30, 2008

Hedge fund founder Samuel
Israel III and finance chief Daniel Marino pleaded guilty in 2005 to using fake results and a phony auditing firm. Investors lost approximately $400 million according to court papers, but the government put the loss at over $450 million.The co-founder James G. Marquez was also implicated in the conspiracy and was sentenced to 51 months in prison. Israel is awaiting sentencing.
"I am truly sorry," Marino said.
More at; Hedge Fund Finance Chief Sentenced To 20 Years
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