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Investment Manager Admits to $72M Scam

Friday, Sep 06 2013

News Roundup

Written by PFA News

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Houston-based investment manager Robert Andres has pleaded guilty to participating in a $72 million investment scam. So reports the Federal Bureau of Investigation.

Andres raised $72 million in assets by using misleading marketing materials and misappropriated approximately $2.2 million for his own use, including living expenses and hotel bills.

Read the full press release from the FBI here.

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