Korean Financial Adviser Sentenced

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The former owner and operator of the now-defunct downtown investment adviser firm C+ Capital Management LLC was sentenced Monday afternoon to 87 months in federal prison.


Won Charlie Yi was sentenced for bilking Korean-American investors out of more than $28 million in assets, the court said.


Yi, 47, of Los Angeles, was sentenced by United States District Judge A. Howard Matz, who also ordered Yi to pay $29 million in restitution to individual investors as well as an additional $2.4 million to Wells Fargo Bank.


In late 2005, Yi pleaded guilty to four counts of bank fraud, 11 counts of mail fraud, two counts of investment adviser fraud and two counts of criminal forfeiture. All of the counts stemmed from investments he made through his Los Angeles-based C+ Capital Management company.


Yi was arrested in South Korea in April of 2005 and extradited shortly after. This case is the product of an investigation by the Federal Bureau of Investigation.

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