Ex-Fund Manager Convicted of Fraud
From Times Wire Reports
A former money fund manager was convicted in Baltimore of defrauding the state pension system by using its funds to revive the stock price of his own company.
The $29-billion pension system, which includes the retirement funds of more than 250,000 teachers, police officers, firefighters and other Maryland government workers, lost nearly $5 million in the transactions.
Nathan Chapman Jr., 46, was found guilty of 23 fraud counts, including taking funds from his own companies, partly to pay for extramarital affairs.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
