Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Former HF CEO Sentenced for Embezzlement

Mar 17, 2013
Jing Chen

The former CEO of a Connecticut-based hedge fund firm was sentenced Thursday to 41 months in jail for embezzlement.

Connecticut news outlet Westport News reported that Darrin Foster, who prosecutors said embezzled more than $1 million from the firm, also faces three of years of supervised release.  

The article said that Foster had access to the firm’s bank accounts for business-related expenses but allegedly made personal charges from 2004 to 2010.

Arrested in May last year, Foster pleaded guilty to one count of wire fraud on October 16.


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