Hedge fund fraudster Brian Kim, the one-time CNBC
contributor who admitted stealing some $6.4 million from his clients and his
New York condominium association, will spend as many as 15 years in prison for
his crimes, finalternatives reports.
Most of them, anyway: Kim was sentenced to five to 15 years in
prison on Friday, just over a month after he struck a plea deal with
prosecutors. In addition to pleading guilty to running a Ponzi scheme and
ripping off his condo, Kim also pleaded guilty to jumping bail—he disappeared
in January 2011, a month before he was charged with the Ponzi scheme, and
arrested in Hong Kong in October.
Last month, Kim was sentenced to 14 months in prison for
passport fraud; he lied to get a new U.S. passport after surrendering his
original following his indictment on the condo theft, and used it to flee to
Hong Kong. The two prison sentences will run consecutively, meaning that Kim
won't be free for at least six years and two months. Prior to his plea deal, he
had faced up to 45 years in prison.
New York State Judge Charles Solomon chose not to impose any
financial penalties; Kim is already subject to a $12.5 million default judgment
in a civil case filed by the Commodity Futures Trading Commission.
Wait, wait…there’s more at http://www.finalternatives.com/node/20254
No comments:
Post a Comment