MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, March 17, 2011 Court Convicts the Con Man Who Cried 'Fidelity' A man who used fake ties to Fidelity chief Ned Johnson was just convicted in federal court. The Providence Journal's Michael McKinney reports that yesterday, after a 17-hour, three-day jury deliberation, a U.S. District Court found Rocco DeSimone guilty "of money laundering and seven counts of mail fraud" and not guilty of two other mail fraud counts. DeSimone allegedly duped investors out of more than $6 million in 2006 and 2007 by claiming that, thanks to a made-up connection with Johnson, he knew Fidelity was going to buy a new invention for millions. Yet, the prosecution maintained that DeSimone did not know Johnson nor did he have any insight into such Fidelity plans. Printed from: MFWire.com/story.asp?s=36289 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |