İstanbul escort bayan sivas escort samsun escort bayan sakarya escort Muğla escort Mersin escort Escort malatya Escort konya Kocaeli Escort Kayseri Escort izmir escort bayan hatay bayan escort antep Escort bayan eskişehir escort bayan erzurum escort bayan elazığ escort diyarbakır escort escort bayan Çanakkale Bursa Escort bayan Balıkesir escort aydın Escort Antalya Escort ankara bayan escort Adana Escort bayan

58.5 F
San Diego
Thursday, May 30, 2024
-Advertisement-

Fund Manager Gets Four-Year Prison Term

Clementine Estrada, who managed two defunct high-yield investment funds in Escondido, was sentenced Dec. 4 to 50 months in prison and three years supervised release by U.S. Judge Barry Moskowitz after she pleaded guilty to one count of conspiracy to commit mail fraud and wire fraud, according to the U.S. Attorney’s Office.

Estrada admitted she conspired to defraud 68 investors of about $2 million in two funds, the Crystal Rose and Sterling Rose Capitalization Programs from December 2001 to August 2004.

Prosecutors said Estrada promised returns of up to 90 percent per month in some instances, while guaranteeing the investment principal.

In her plea agreement, Estrada admitted she made false representations to investors to induce them to participate in the programs, that she provided false and misleading reports to investors, attempted to thwart the government’s investigation, and violated terms of a permanent injunction previously entered against her by the Securities and Exchange Commission, prosecutors said.

Estrada, 67, was ordered to pay $1.8 million in restitution to the victims, with a hearing on Dec. 23 to determine the final amount.

, Mike Allen

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-
-Advertisement-