Originally published Monday, November 2, 2009 at 2:12 PM
Comments (0)
E-mail article
Print view
Share
NY broker pleads guilty in hedge fund fraud
A former securities broker has pleaded guilty to charges he helped a prominent Manhattan lawyer dupe hedge funds into making bogus investments.
The Associated Press
A former securities broker has pleaded guilty to charges he helped a prominent Manhattan lawyer dupe hedge funds into making bogus investments.
The broker, Kosta Kovachev, entered the plea to conspiracy to commit securities fraud Monday in federal court in Manhattan.
He admitted aiding lawyer, Marc Dreier, in a conspiracy to sell more than $100 million in fictitious securities to hedge funds in 2006 and 2007.
The 58-year-old Kovachev faces up to 25 years in prison at a March 5 sentencing. Dreier is serving a 20-year prison sentence after pleading guilty to federal charges.
Prosecutors say Kovachev and Dreier posed as representatives of a real estate developer - even using the developer's Manhattan offices - to sell phony promissory notes to hedge funds.
E-mail article
Print view
Share
Nintendo re-enlists Mario, savior of video-game industry
Verizon-Frontier deal stirs concern among consumers
Brier Dudley: 'Guitar Hero' founder excited about future
Gaps for consumers in Democrat health care bills
Hutch gets $10M from Bezos family for immunotherapy research
More Business & Technology headlines...
Real Salt Lake wins MLS Cup
Real Salt Lake defeated the Los Angeles Galaxy with penalty kicks after 120 minutes of play at Qwest Field in Seattle.
Raw Video | Real Salt Lake receives the MLS Cup trophy
Raw Video | Real Salt Lake fans celebrate
Real Salt Lake fans enter Qwest Field
Raw Video | MLS Cup Opening Ceremony
LA Galaxy's David Beckham
Real Salt Lake's Kyle Beckerman
MLS trophy arrives in Seattle
Chittenden Locks Inspection
Full interview with New Moon actors
Entertainment | Top Video | World | Offbeat Video | Sci-Tech
nwjobs
Post a comment
Michelle Goodman blogs about work/life balance.
How to tell your office you're gravely ill
Post a comment
nwautos
Choosing a new sedan? Weigh the impact of your choice on your wallet and on the planet.
Post a comment
Open Houses | Find this weekend's open house listings.  Or search by location: |
- 'The Road' takes Viggo Mortensen to Mount St. Helens and Astoria, Ore.
- Tugboat sinks at Seattle waterfront pier
- Child-support error costs nearly $21,000
- Vikings easily beat the Seahawks
- Craigslist adoption ad: A plea by young mother-to-be? A scam?
- Chase shrugs off loss of CD investors
- Illegal workers quietly let go
- Denny Triangle gains skyline, but tenants slow to come
- Snow piles up on Cascade slopes
- Woman stabbed by stranger in North Seattle
- Vikings easily beat the Seahawks 142
- Palin excitement builds in Tri-Cities 129
- Child-support error costs nearly $21,000 129
- Tight Senate vote launches health care over hurdle 123
- Cutting through breast-cancer confusion 95
- Historic health care bill clears Senate hurdle 90
- Game thread 70
- New York terror trials will restore faith in rule of law 69
- Illegal workers quietly let go 66
- Chase shrugs off loss of CD investors 54
- Sprouts, raw fish on attorney's 'do not eat' list
- 'The Road' takes Viggo Mortensen to Mount St. Helens and Astoria, Ore.
- Child-support error costs nearly $21,000
- It's possible to recover a life lost to hoarding
- Washington state wines make annual best-of list
- Rediscovering Moab, 'the most beautiful place on Earth'
- Banff: powder, peaks & purity
- Chase shrugs off loss of CD investors
- Food-safety lawyer's wish: Put me out of business
- Denny Triangle gains skyline, but tenants slow to come
