New York (HedgeCo.Net) – The Florida hedge fund manager that surrendered watches, cars, an airplane and a backpack of cash earlier this month has been sentenced to five years in prison for conspiracy, securities fraud, wire fraud and money laundering.
“Klatch acknowledged that while his clients were losing their life savings, he was enjoying a lifestyle that included a house in his home state, a condominium in Tampa, Florida, an airplane, a $350,000 boat, a $280,000 Ferrari, a Land Rover, a pair of Aston Martin automobiles, a Rolex watch and other luxuries.” Alabama.com reported.
Anthony J. “A.J.” Klatch II has been ordered to pay well over $2 million in restitution to his victims and a $400 court assessment fee.
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