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Congers hedge fund manager pleads guilty in $2.7M investor swindle

Gannet – A Congers hedge fund manager who was accused of defrauding investors out of more than $2.7 million pleaded guilty to four criminal counts Thursday.

Stephen Colangelo Jr., who prosecutors said ran a scam that involved misleading investors by issuing fraudulent performance statements and other business documents, was arrested at his home last year.

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