This undated photo provided by the FBI shows , Kenneth Conley, left and Jose Banks two inmates who escaped from the Metropolitan Correctional Center in downtown Chicago Tuesday, Dec. 18, 2012. Chicago Police Sgt. Michael Lazarro says their disappearance was discovered at about 8:45 Tuesday morning. Lazarro says the pair used a rope or bed sheets to climb from the building. (AP Photo/FBI,HOPD)
Financier in Conn. fraud enters US custody
Published: 09:21:54 PM, Fri 25 January 2013 UTC
BRIDGEPORT, Conn. (AP) — A Venezuelan financier has surrendered to U.S. marshals in Connecticut to be detained as he awaits sentencing in a massive fraud scheme.
A spokesman for the U.S. attorney in Connecticut said Friday that Francisco Illarramendi turned himself in as ordered by a federal judge.
Illarramendi had been under house arrest in New Canaan since pleading guilty in 2011.
The sentencing has been postponed several times as Illarramendi has changed attorneys, and Judge Stefan Underhill ordered his detention last week.
Illarramendi ran unregistered hedge funds out of offices in Stamford. He has pleaded guilty to several counts of fraud and conspiracy to obstruct justice.
Illarramendi's biggest client was a pension fund for state oil workers in Venezuela.
Tags:
francisco illarramendi, law_crime, connecticut, hedge fund, federal government of the united states, sentencing, u.s. state, house arrest, pension fund, federal judge, spokesman, u.s. attorney, stamford, connecticut, norwalk, connecticut, fairfield county, connecticut, u.s. marshals, venezuelan financier, massive fraud scheme, unregistered hedge funds, state oil workers, illarramendi, new canaan, new canaan, connecticut, judge stefan underhill, conn. fraud
