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Ex-Hedge Fund Officer Gets 2 1/3 to 7 Years for Theft

Bloomberg – A former chief operating officer of 3V Capital Management LLC was sentenced to 2 1/3 to 7 years in prison after misappropriating more than $8 million from a Capital fund and stealing almost $1 million more.

Mark Focht, 32, was sentenced today in New York state court in Manhattan. He had pleaded guilty to grand larceny Aug. 10. In addition to misappropriating funds, Focht stole almost $700,000 from his firm and $250,000 from Pierce Diversified Strategy Master Fund LLC, a hedge fund managed by the firm.

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