08Feb
NEW YORK (AP) — Three business partners in a Manhattan-based private equity firm have been charged in a high-stakes scheme to use clients’ money to cover fake returns. Federal and state authorities said on Thursday that the defendants had raised more than $1.7 billion by creating an “aura of success.” New York officials were seeking $700 in restitution for 1,400 investors. A lawyer for one of the defendants said he would plead not guilty. Messages were left with attorneys for the others.