MANHATTAN (CN) – Two crooked hedge fund managers were sentenced to federal prison on Friday for defrauding people of $20 million. Alan Fishman, owner-president of A.R. Capital Group got 37 months, and Daniel Ledven, the company’s manager got 57 months.
Rather than use the money for leveraged real estate deal, the men sent $18 million of it to bank accounts in the Ukraine.
Fishman, 50, lived in Brooklyn; Ledven, 38, in Cresskill, N.J.