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Man Sentenced For Role In Stock 'Pump, Dump' Scheme Involving CT Resident Man Sentenced For Role In Stock 'Pump, Dump' Scheme Involving CT Resident
Man Sentenced For Role In Stock 'Pump, Dump' Scheme Involving CT Resident A man who engaged in a six-year securities fraud scheme is heading to prison after costing investors - including several in Connecticut - out of nearly $20 million. Boca Raton resident William Lieberman, 42, has been sentenced to 84 months in prison, followed by three years of supervised release, and must pay back more than $5 million in restitution for his role in the scam. John Durham, the United States Attorney for the District of Connecticut, announced the sentence on Friday. Beginning in 2010 and spanning through July 2016, Lieberman conspired with others, including Connecticut reside…

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by Zak Failla
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Ex-Wall Street Law Clerk From Katonah Sentenced For Insider Trading Scheme Ex-Wall Street Law Clerk From Katonah Sentenced For Insider Trading Scheme
Ex-Wall Street Law Clerk From Katonah Sentenced For Insider Trading Scheme A Northern Westchester man who was the former managing clerk for an international law firm was resentenced for stealing sensitive, confidential information for use in a five-year insider trading scheme that yielded net profits of more than $2 million, U.S. Attorney Craig Carpenito announced. Steven Metro, 44, formerly of Katonah, was sentenced Wednesday to 37 months in prison.  Metro pleaded guilty to the first two counts of an indictment charging him with securities fraud and conspiracy to commit securities and tender offer fraud In November 2015, and was sentenced to 46 months in prison i…

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by Joe Lombardi
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Westport Man Convicted Of Stealing Government Info For Insider Trading Westport Man Convicted Of Stealing Government Info For Insider Trading
Westport Man Convicted Of Stealing Government Info For Insider Trading A Westport resident was one of four people convicted of stealing government information for insider trading, according to U.S. Attorney for the Southern District of New York Robert Khuzami. Theodore Huber, 56, a partner at Deerfield Management Company, L.P., a healthcare-focused hedge fund in New York, along with three others were found guilty following a four-week trial. The hedge fund is believed to have reaped more than $7 million in profits as a result of the scheme. The group was charged with participating in a scheme, from 2009 through 2014, to defraud the government and to commit sec…

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by Kathy Reakes
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Northern Westchester Hedge Fund Manager Pleads Guilty To $22M Ponzi Scheme Northern Westchester Hedge Fund Manager Pleads Guilty To $22M Ponzi Scheme
Northern Westchester Hedge Fund Manager Pleads Guilty To $22M Ponzi Scheme A former hedge fund manager from Northern Westchester pleaded guilty Thursday to defrauding 45 investors, many of them friends and neighbors, of $22 million in a Ponzi scheme. Michael Scronic of Pound Ridge, 46, pleaded guilty to one count of securities fraud, which carries a maximum sentence of 20 years in prison. He is scheduled to be sentenced by Judge Cathy Seibel on July 9.  “Michael Scronic lied about the performance of his investment fund, telling investors that his returns were as high as 13 percent," U.S. Attorney for the Southern District of New York Geoffrey S. Berman said. …

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by Joe Lombardi