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Criminal

Jun. 9, 2012

Ex-investment manager pleads guilty

Former investment fund manager John Farahi pleaded guilty to federal fraud charges Thursday, admitting he swindled millions of dollars from investors by falsely promising to buy corporate bonds backed by TARP.

By Ben Adlin

Daily Journal Staff Writer

Former investment fund manager John Farahi pleaded guilty to federal fraud charges Thursday, admitting he swindled millions of dollars from investors by falsely promising to buy corporate bonds backed by the government's Troubled Asset Relief Program, or TARP.

In the plea agreement, Farahi also said he had conspired with his attorney, former Nixon Peabody LLP partner David M. Tamman, to obstruct a Securities and Exchange Commissi...

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