Stein Pleads Guilty To $30 Million Hedge Fund Fraud

Hedge fund manager Edward Stein has pleaded guilty to running a $30 million fraud, including a Ponzi scheme.

Stein entered his plea on four counts of securities fraud and one of wire fraud yesterday in Brooklyn, N.Y., federal court. He was freed on $2 million bond, despite pleas from some of his victims that he be jailed immediately.