A San Francisco investment manager is facing a maximum sentence of 20 years in prison after pleading guilty to fraud.
Federal prosecutors say in pleading guilty to mail fraud Tuesday, Alexander Trabulse admitted that he mailed fraudulent account statements to investors in funds he managed known as the Fahey Hedge Fund and Fahey Financial Group.
Prosecutors estimate that between1998 and 2007 investors lost about $8.3 million because of the bogus statements.
The 62-year-old Trabulse is due to be sentenced in March. Besides a prison term, he’s also facing fines and may be ordered to pay restitution.
Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
wudchuck says: 
Really? says: 
Daredevil CEOs May Put Companies at Risk
California Independent Contractor Law May Be Liability for Agents, Brokers
North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012
Long-time California Lobbyist Looks to 2012 Legislation Affecting Insurance
Mine Safety Chief Seeks to End Complacency Over Safety
Virginia Court Grants Rehearing of Global Warming Claims Case
Woman Takes Honda to Small-Claims, Wins Big
Federal Insurance Office Says Overdue Regulation Report Still Weeks Away
