AP – The attorney assigned to unravel a Connecticut-based investment pyramid scheme says it will take longer than expected to account for the money, including hundreds of millions of dollars invested on behalf of a pension fund for Venezuelan state oil workers.
The court-appointed receiver, John Carney, is investigating the financial dealings of Francisco Illarramendi, a Venezuelan-American accused of taking money from hedge funds he operated in Stamford, Conn., for personal use. U.S. prosecutors in Connecticut have called it the state’s biggest white-collar federal prosecution.
