Hedge-Fund Manager Pleads Guilty in Scheme
From Times Staff Reports
Hedge-fund manager Marvin Friedman, 67, pleaded guilty Monday to a scheme to defraud investors out of $48 million.
Friedman will face a maximum of eight years in prison when sentenced in federal court May 15. He admitted to diverting money from his Global Money Management fund for his own benefit and evading $481,000 in income taxes.
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