NEW HAVEN, Conn. – Federal prosecutors in Connecticut say three former hedge fund executives have pleaded guilty to conspiracy stemming from a scheme to deceive investors in order to keep a big customer.
The U.S. attorney's office said Thursday that 45-year-old David Bryson of Ridgefield, 62-year-old Bart Gutekunst of Weston and 42-year-old Richard Pereira of Ridgefield pleaded guilty Wednesday in New Haven to conspiracy to commit wire fraud. The three are former executives of New Stream Capital LLC, a Ridgefield-based hedge fund.
Authorities say the three schemed to prevent the loss of their largest investor by secretly keeping one fund open without telling investors who were required to transfer into another fund.
Gutekunst's attorney declined to comment. Telephone messages left with attorneys for Bryson and Pereira were not immediately returned.