Post by Logan on Jun 18, 2016 23:53:24 GMT -6
BOSTON — A Massachusetts financier who defrauded investors and misappropriated more than $15 million from an investment fund has been sentenced to 9 years in prison.
The Boston Globe reports that 41-year-old Daniel Thibeault was sentenced Thursday, two months after he pleaded guilty to the federal charges.
Thibeault is a 2004 graduate of Harvard Business School and the founder and owner of Graduate Leverage LLC, a Waltham-based asset management and financial advisory firm. He was also co-portfolio manager of GL Beyond Income Fund, a mutual fund that purported to invest in consumer loans to individuals with graduate degrees.
Prosecutors said many of the loans were fictitious and Thibeault diverted some of the fund's assets for use on business and personal expenses.
Read more: www.telegram.com/news/20160617/financial-adviser-gets-9-years-in-15m-fraud-scheme
The Boston Globe reports that 41-year-old Daniel Thibeault was sentenced Thursday, two months after he pleaded guilty to the federal charges.
Thibeault is a 2004 graduate of Harvard Business School and the founder and owner of Graduate Leverage LLC, a Waltham-based asset management and financial advisory firm. He was also co-portfolio manager of GL Beyond Income Fund, a mutual fund that purported to invest in consumer loans to individuals with graduate degrees.
Prosecutors said many of the loans were fictitious and Thibeault diverted some of the fund's assets for use on business and personal expenses.
Read more: www.telegram.com/news/20160617/financial-adviser-gets-9-years-in-15m-fraud-scheme