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Wednesday, 7 December 2016
Last updated 9 hours ago
Nov 21 2013 | 10:10am ET
Hedge fund consultant and former hedge fund manager Ezra Zask has pleaded guilty to child pornography charges.
Zask admitted to possessing a sexual performance by a child in Manhattan state court yesterday. He will serve no jailtime, having struck a deal with prosecutors that calls for 10 years' probation. Zask will also have to register as a sex offender.
Zask, who runs consultancy SFC Associates, will be formally sentenced on March 5. He could have faced up to seven years in prison.
Zask resigned from the academic board of the Hedge Fund Association yesterday. He was scheduled to speak at a hedge fund event at Seton Hall University last night, but he failed to appear.
The former head of Ezra Zask Advisors was arrested last summer at his Manhattan home. Police found "numerous images and videos" containing child pornography. Zask admitted that he had 10 videos of children engaging in sexual activity.
"These events occurred at a very, very difficult time in his personal life," Zask's lawyer, Allen Futerfas, told Bloomberg News. "He's had a lot of tragedy in his life and this came at a very difficult time. We're glad he can put this behind him and move forward."