Groundswell Manager Sentenced To Seven Years

Jun 7 2007 | 11:22am ET

Mark Conway, who duped investors out of some $20 million via his market-timing shop Groundswell Partners, was sentenced to seven years in prison last month, according to the Securities and Exchange Commission.

Last October, Conway pleaded guilty to 13 counts of mail and wire fraud in connection with a scheme in which he defrauded approximately 50 investors.

Conway’s seven-year stint in the big house is to be followed by three years of supervised release, a $1,300 special assessment fine and payment of restitution in the amount of $20 million.

Related Article:


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...