Hedge Funds

Former Vicis executive sentenced to two years of probation

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A former managing director at the once-$5 billion convertible arbitrage hedge fund pleads guilty to conspiracy to commit wire fraud.

Christopher Phillips, a former managing director at Vicis Capital, was sentenced to two years probation this past Wednesday after pleading guilty to one count of conspiracy to commit wire fraud. Phillips has also been sentenced to 12 months of home confinement including electronic monitoring and ordered to pay a $250,000 fine, according to Seth Aframe, an assistant U.S. attorney who prosecuted Phillips at a federal court in New Hampshire. Vicis Capital has been winding down since the beginning of 2010, as reported in April by AR.

According to recently released court documents (1, 2, 3),