{"id":4441,"date":"2007-06-05T01:31:41","date_gmt":"2007-06-05T01:31:41","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/06\/north_cove_ventures_llc_and_fo"},"modified":"2022-03-25T14:25:33","modified_gmt":"2022-03-25T19:25:33","slug":"north-cove-ventures-llc-and-fo","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/north-cove-ventures-llc-and-fo\/","title":{"rendered":"North Cove Ventures LLC and Former Connecticut State Senator DiBella Found Liable For Aiding And Abetting Fraudulent Investment Scheme"},"content":{"rendered":"

A federal jury has found former Connecticut State Senator William A. DiBella and consulting firm North Cove Ventures LLC liable for aiding and abetting a fraudulent investment scam.<\/p>\n

The scheme involves former Connecticut State Treasurer Paul Silvester, who had invested $75 million in state pension funds with private equity firm Thayer Capital Partners. The former state treasurer allegedly fixed it so that Thayer would pay Mr. DiBella a percentage of the investment even though he didn’t do anything to warrant being paid.<\/p>\n

The SEC says that in November 1998, Silvester asked Thayer to hire DiBella. The private equity firm allegedly consented to the hire and paying DiBella the percentage fee even though he did no work for it. Silvester allegedly added at least another $25 million to the pension fund’s investment just to get a larger fee for DiBella, who ended up receiving nearly $375,000.<\/p>\n

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

A federal jury has found former Connecticut State Senator William A. DiBella and consulting firm North Cove Ventures LLC liable for aiding and abetting a fraudulent investment scam. The scheme involves former Connecticut State Treasurer Paul Silvester, who had invested $75 million in state pension funds with private equity firm Thayer Capital Partners. The former […]<\/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":[3738],"tags":[],"class_list":["post-4441","post","type-post","status-publish","format-standard","hentry","category-investor-fraud"],"yoast_head":"\nNorth Cove Ventures LLC and Former Connecticut State Senator DiBella Found Liable For Aiding And Abetting Fraudulent Investment Scheme — Investor Lawyers Blog — June 5, 2007<\/title>\n<meta name=\"description\" content=\"A federal jury has found former Connecticut State Senator William A. 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