Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Sunday, July 21, 2024 | Back issues
Courthouse News Service Courthouse News Service

Hedge Fund Trader|Siphoned Off $3M

NEW YORK (CN) - Ezra Levy, the former chief trader of a Manhattan-based hedge fund, pleaded guilty to securities and wire fraud for stealing $3 million from the fund.

Federal prosecutors say Levy diverted money owed to the fund to his own account. He also bought stock at inflated values with the fund's money and pocketed the profits.

Levy, 32, used the money to pay personal credit card bills, prosecutors said after Levy pleaded guilty on Thursday.

Sentencing is scheduled for sentencing on for June 18.

Categories / Uncategorized

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Loading...