Greenwich hedge fund manager pleads guilty to tax evasion in $5M embezzlement scheme

Greenwich hedge fund manager pleads guilty to tax evasion in $5M embezzlement scheme

The man also agreed to pay $2.16 million in restitution to the IRS, officials said.

Greenwich Hedge Fund Manager Pleads Guilty to Tax Evasion

Jeffrey Arsenault, 63, of Greenwich is released on a $50,000 bond pending sentencing, which is not scheduled.  Tax evasion carries a maximum term of imprisonment of five years.

Hedge Fund Legal Fallout: Greenwich Manager Pleads Guilty in $5M Fraud Scheme

(HedgeCo.Net) A hedge fund manager based in Greenwich has pleaded guilty to federal tax evasion and embezzlement charges related to a multi-million-dollar fraud scheme. Greenwich Time Details of the Case Sixty-three-year-old Jeffrey Arsenault — who managed Old Greenwich Capital Partners LP — admitted to siphoning over $5 million from clients and diverting funds for personal use, including luxury expenses. Prosecutors revealed that Arsenault fals…

Greenwich Hedge Fund Manager Admits To Tax Evasion In $5M Investor Scheme: Feds

A Greenwich hedge fund manager admitted in federal court that he dodged taxes after taking millions meant for investors, federal authorities said. Jeffrey Arsenault, 63, pleaded guilty to tax evasion during a hearing in New Haven this week, the US Attorney for Connecticut said. As part of his plea, Arsenault agreed to repay the IRS the $2 million in back taxes, as well as nearly $4.6 million to victims in a separate civil case brought by federal…