Friday, 29 May 2015
Last updated 12 min ago
Nov 19 2007 | 1:05pm ET
Michael Mendelsohn, the co-founder of collapsed hedge fund Portus Alternative Asset Management, shocked a Toronto court today by pleading guilty to fraud charges.
Mendelsohn, who had previously avowed his innocence, entered the surprise plea at what was supposed to be a preliminary hearing this afternoon. He and co-founder Boaz Manor, who returned to Canada last week after more than two years on the run in Israel, were charged in September with defrauding investors and obstruction of justice.
Last week, Manor pleaded not guilty to the charges.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…