Hedge fund manager faces sentencing for fraud

The News Leader

May 22, 2010 11:44:17 AM PDT
A Connecticut man faces sentencing for fraud in connection with hedge funds he managed. Authorities say 28-year-old Francesco Rusciano of Stamford will be sentenced Wednesday in U.S. District Court in New Haven. He pleaded guilty in January to wire fraud.

Prosecutors say Rusciano admitted he defrauded investors by overstating his background and experience as a currency trader with his prior employer and by overstating his performance history.

Authorities say he also overstated the amount of money he had under management in Ponta Negra Funds.