Wednesday, February 27, 2013

Connecticut hedge fund managers arrested on fraud charges

Three senior executives of New Stream Capital, a Connecticut hedge fund, were arrested and charged on Tuesday for allegedly lying about the fund's structure and financial condition in 2008 before it failed, Reuters reports.

A grand jury indicted Managing Partners David Bryson and Bart Gutekunst and Chief Financial Officer Richard Pereira on charges of conspiracy, securities fraud and wire fraud, the U.S. Justice Department said.  The executives pleaded not guilty and were released on bail, the department said.

The U.S. Securities and Exchange Commission filed related charges against the three executives and settled a related case against the fund's head of investor relations, Tara Bryson, who is David Bryson's sister...

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