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

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Moore Capital PM Fired After Raucous Hamptons Party

Jul 7 2016 | 10:47pm ET

A portfolio manager for Louis Bacon’s $15 billion hedge fund Moore Capital Management...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...