LoanSafe.org –Yesterday it was announced that 3 men were charged with multiple charges, coming from a scheme to defraud investors and creditors of Fairfield County hedge funds.
The 3 men charged in the case were Francisco Illarramendi (who was a manager at Fairfield County hedge funds), Juan Carlos Guillen Zerpa and Juan Carlos Horna Napolitano. The entire scheme resulted in the potential losses of hundreds of millions of dollars of investors.Illarramendi yesterday relinquished his right to indictment, and pleaded guilty in a US District Court in Bridgeport, Connecticut. His charges he pleaded guilty to were two counts of wire fraud, one count of securities fraud, one count of investment advisor fraud, and one count of conspiracy to obstruct justice, to obstruct an official proceeding, and to defraud the U.S. Securities and Exchange Commission (“SEC”).
