Ponzi Schemer Gets 15 Months For Second Fraud

Feb 28 2012 | 5:32am ET

This time, the judge went easy on him.

Former hedge fund manager Mark Trimble was sentenced to 15 months in prison for ripping off his cycling coach to the tune of $40,000. The Phidippides Capital Management founder could have received 10 years in prison.

Of course, Trimble is already serving 10 years for running a $34 million Ponzi scheme. He managed to get into trouble again in 2009 while awaiting trial in that case, both defrauding his coach and violating a Commodity Futures Trading Commission ban from trading.

Trimble pleaded guilty in both cases.

In the most recent, he was ordered to pay $41,000 in restitution to his coach—on top of the $9 million he was ordered to pay Ponzi scheme victims in 2010.

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