New Stream stopped returning money to investors during the financial crisis, after receiving $545 million of redemption requests by the end of Sept. 2008, the U.S. Securities and Exchange Commission said in a related civil lawsuit.
The other New Stream defendants, former managing partner Bart Gutekunst and former Chief Financial Officer Richard Pereira, also pleaded guilty to conspiracy and were scheduled to be sentenced this week. Prosecutors want five years in prison for Gutekunst and three to four years for Pereira. Both defendants say no prison time is warranted.
The case is U.S. v. Bryson et al, U.S. District Court, District of Connecticut, No. 13-cr-00041.