{"id":4384,"date":"2007-03-07T08:55:32","date_gmt":"2007-03-07T08:55:32","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/03\/former_brokerage_account_vice"},"modified":"2022-03-25T14:47:35","modified_gmt":"2022-03-25T19:47:35","slug":"former-brokerage-account-vice","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/former-brokerage-account-vice\/","title":{"rendered":"Former UBS Vice President Pleads Guilty To Conspiring With Hedge Fund Operator And Founder Of Capital Management Group To Bilk At Least $2.5 Million From Over 40 Investors"},"content":{"rendered":"

The U.S. Attorney’s Office says that Justin Paperny, a former account vice president at UBS Financial Services, Inc., has pleaded guilty to helping Capital Management Group founder Keith Gilabert bilk at least $2.5 million from investors.<\/p>\n

Paperny pled guilty to wire fraud, securities fraud, and conspiracy to commit mail fraud, while admitting that he helped Gilabert fraudulently run GLT Venture Fund. Paperny also said that he lied to investors so that they would invest in the fund, took kickbacks from Gilabert, and conspired with him to mislead investors about the hedge fund’s performance history, the oversight of Capital Management Group by his brokerage firm, and any risks connected to investing in Capital Management Group.<\/p>\n

That said, Paperny also says that he informed management at the brokerage firm that GLT had not been adhering to its investment strategy and that authorities at his firm knew of Gilabert’s fraudulent behavior. The investigation is pending. Paperny faces a possible 5-year federal prison term. He has agreed to cooperate with investigators as a condition of his guilty plea.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The U.S. Attorney’s Office says that Justin Paperny, a former account vice president at UBS Financial Services, Inc., has pleaded guilty to helping Capital Management Group founder Keith Gilabert bilk at least $2.5 million from investors. Paperny pled guilty to wire fraud, securities fraud, and conspiracy to commit mail fraud, while admitting that he helped […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3748,3755],"tags":[],"class_list":["post-4384","post","type-post","status-publish","format-standard","hentry","category-hedge-funds","category-ubs"],"yoast_head":"\nFormer UBS Vice President Pleads Guilty To Conspiring With Hedge Fund Operator And Founder Of Capital Management Group To Bilk At Least $2.5 Million From Over 40 Investors — Investor Lawyers Blog — March 7, 2007<\/title>\n<meta name=\"description\" content=\"The U.S. Attorney's Office says that Justin Paperny, a former account vice president at UBS Financial Services, Inc., has pleaded guilty to helping — March 7, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, 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