"Ex-hedge fund execs plead guilty to conspiracy" Associated Press May 23, 2014
NEW HAVEN — Three former hedge fund executives pleaded guilty to a conspiracy charge stemming from a scheme to deceive investors in order to keep a big customer, federal prosecutors said Thursday.
David Bryson, 45, of Ridgefield; Bart Gutekunst, 62, of Weston; and Richard Pereira, 42, of Ridgefield, pleaded guilty Wednesday in New Haven to conspiracy to commit wire fraud, the US attorney’s office said. The three are former executives of New Stream Capital LLC, a Ridgefield-based hedge fund.
In 2007, New Stream told foreign investors that a fund would be closing and they would have to move their investments into new funds in the Cayman Islands. At risk of losing their largest investor, the three set in motion a scheme to secretly keep the fund open and give priority to certain investors, prosecutors said.
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