New York (HedgeCo.net) – Utah-based hedge fund managers Thomas Repke and James Jeffery were sentenced today to federal prison on charges of conspiracy to commit wire and mail fraud. The pair were principals of  hedge fund operator known as Coadum Capital Advisors, which at its height (2005-2008) attracted nearly 250 investors and nearly $40 million in investments.

“The defendants in this major international investment fraud scheme defrauded over 200 victims around the country out of tens of millions of dollars, most of which has been dissipated in overseas accounts.” United States Attorney Sally Quillian Yates said, “They targeted seniors, retirees, and others simply looking for safe and secure returns, but now these corrupt managers will be in federal prison for years to come.”

Repke was sentenced to 10 years in prison to be followed by five years of supervised release. Jeffery was sentenced to seven years and three months in prison to be followed by five years of supervised release. Both had pleaded guilty.

Both defendants were ordered, jointly and severally, to pay $29,740,180 in restitution to over 200 victims.

This case is part of President Barack Obama’s Financial Fraud Enforcement Task Force, investigated by special agents of the FBI, based on a referral from the SEC.

Alex Akesson
Editor for HedgeCo.net
alex@hedgeco.net
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