Former investment manager guilty in fraud case
bostonherald.com | 5/19/08 | Associated Press
WORCESTER - The head of a former Worcester-based investment firm has been convicted of cheating investors out of about $13 million to cover trading losses and personal expenses.
A U.S. District Court jury reached the verdict against Amit Mathur on Friday after less than three hours of deliberations. The 37- year-old Shrewsbury man was convicted on all 20 counts of mail and wire fraud. Federal prosecutors accused Mathur of cheating investors in his former company, Entrust Capital Management, out of about $13 million from 2001 to 2005. Investigators said Mathur used the money to cover trading losses as well as personal expenses for items such as jewelry and a Porsche sport utility vehicle. Mathur’s lawyers say they plan to appeal Friday’s verdict.