Hedge Funds

Lampert kidnapper gets 15 year prison term


The mastermind behind the kidnapping of billionaire hedge fund manager Edward Lampert, who founded distressed hedge fund firm ESL Investments, has been sentenced to 15 years in federal prison for the crime, according to an Associated Press report.

Renaldo Rose, 24, confessed that he and three other men kidnapped Lampert from a parking garage in Greenwich, Conn. in 2003 and told Lampert they had been hired to kill him for $1 million but would give him the opportunity to pay his own ransom, according to the report.

Forbes magazine estimates Lampert's wealth at about $1.5 billion, making him one