GL Capital Partners' former CEO Daniel Thibeault sentenced to nine years in prison

Mr. Thibeault pled guilty to misappropriating around $15 million from the GL Beyond Income Fund.
MAR 14, 2016
By  Bloomberg
Daniel Thibeault, former CEO of the asset management firm GL Capital Partners, was sentenced to nine years in prison and ordered to make restitution of $15.3 million, according to the Securities and Exchange Commission. Mr. Thibeault had pled guilty in March to securities fraud in a scheme to use at least $15 million of fund money to issue fake loans. He had also admitted to obstruction of justice for the false statements he made to government authorities during their investigation. In 2014, Mr. Thibeault was arrested by the FBI on securities fraud charges, and in the following year, the SEC filed a related complaint. The complaint alleged that Mr. Thibeault, GL Capital Partners and other related entities had commited securities fraud and fraud by an investment adviser.

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