Urbanite

PE manager charged with stealing $9.3 million from investors

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A private equity fund manager pled not guilty in state Supreme Court Monday to allegedly embezzling about $9.3 million in investor money, according to the Manhattan district attorney's office.

Prosecutors accused Penn, a fund manager at Camelot Acquisitions Secondary Opportunity Management, of using the money to cover personal expenses like credit card payments and a car.

Penn allegedly...

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