NEW YORK, July 10 A former New York fund manager
pleaded guilty on Wednesday to stealing $2.9 million from
investors as part of a Ponzi scheme from 2011 to 2012.
Jason Konior, 39, defrauded clients by vowing to provide
matching funds up to nine times the amount of their investments
in his fund, Absolute, according to the U.S. Attorney's office
Instead, prosecutors said, Konior used the money he
collected to pay his expenses and to cover redemption requests
from prior investors.
In emails, phone conversations and text messages, Konior
pretended to set up brokerage accounts for hedge fund investors
when he had already stolen their money, prosecutors said.
Konior pleaded guilty in Manhattan federal court to one
count of wire fraud, which carries up to 20 years in prison. His
sentencing is scheduled for November 8 before U.S. District
Judge Alvin Hellerstein.
Konior's lawyer, Douglas Jensen, declined to comment.
The case is U.S.A. v. Konior, U.S. District Court for the
Southern District of New York, No. 13-275.