Florida Duo Pleads Guilty to Fraud

Jan 13 2006 | 9:01pm ET

Anthony Giordano of Boca Raton, Fla. has pleaded guilty to federal securities and wire fraud charges in connection with a hedge fund fraud and stock manipulation scheme, according to a statement by the U.S. Attorney's office.

Joseph Zumwalt, a co-defendant in the case, has pleaded guilty to mail fraud.

The two defendants admitted to regulators that they told investors —including two religious organizations — that they would invest their money in a hedge fund run by Fort Lauderdale-based EPG Limited Partners. However, instead of investing the money Giordano used investors' money for personal gain, the attorney's office said.

In an unrelated matter, Giordano admitted that he manipulated the stock price of Weida Communications.

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