2012-04-21businessweek.com

Hedge fund founder Brian Kim was sentenced to a total of five to 15 years in prison after pleading guilty to grand larceny in connection with what prosecutors said was a $6 million Ponzi scheme.

Kim, founder and operator of the hedge fund Liquid Capital Management LLC, pleaded guilty to nine of 26 counts against him in court on March 16.

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Kim was taken into custody in October by authorities in Hong Kong, where he fled on the eve of his trial on charges that he stole $435,000 from the Christadora House, a condominium complex in Manhattan's East Village where he lived.

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Just before the trial for the condominium complex theft, Kim fled to Hong Kong using a fraudulently obtained U.S. passport, according to prosecutors. He pleaded guilty to passport fraud in federal court in Manhattan last month and was sentenced yesterday to 14 months in prison, a portion of which will run consecutive to his sentence today.


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