Boston Area Adviser Gets 7 Years in the Slammer For Fake Hedge Fund

(Bizjournals) A Woburn, Mass. investment adviser has been sentenced to seven years in prison for helping to convince clients to invest more than $1.3 million in a bogus hedge fund company and using their money for personal expenses. Rosalind Herman, 61, was also sentenced to three years of supervised release and to pay $1.8 million to the investors.

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