Bloomberg News

Hu Fraud Judge Weighing Sentence of 10-12 1/2 Years

January 14, 2013

(Corrects city of hearing in first paragraph.)

Albert K. Hu, who was convicted of running a California hedge fund scheme the government said cheated investors of at least $6.5 million, may be sentenced to 10 years and one month to 12 years and seven months, the judge said in a sentencing hearing in San Jose, California.

U.S. District Judge Ronald M. Whyte made the remark today before hearing from victims and hasn’t imposed a sentence yet. Hu, 50, was found guilty by a jury in June of seven counts of wire fraud.

To contact the reporter on this story: Joel Rosenblatt in San Francisco at jrosenblatt@bloomberg.net.

To contact the editor responsible for this story: Charles Carter at ccarter12@bloomberg.net


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