Ex-Fund Manager Convicted of Fraud
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From Times Wire Reports
A former money fund manager was convicted in Baltimore of defrauding the state pension system by using its funds to revive the stock price of his own company.
The $29-billion pension system, which includes the retirement funds of more than 250,000 teachers, police officers, firefighters and other Maryland government workers, lost nearly $5 million in the transactions.
Nathan Chapman Jr., 46, was found guilty of 23 fraud counts, including taking funds from his own companies, partly to pay for extramarital affairs.
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