Conn. hedge fund exec barred from acting as adviser or broker after pleading guilty to fraud - The Washington Post

``The U.S. Securities and Exchange Commission imposed the action Wednesday against Francisco Illarramendi. The 42-year-old New Canaan resident, a Venezuelan-American, is awaiting sentencing... Authorities say the scheme exposed investors to hundreds of millions of dollars in potential losses. A pension fund for Venezuela's state oil workers accounted for most of the investment.''