A former top executive of the failed Connecticut hedge fund firm New Stream Capital LLC was sentenced on Tuesday to 2-3/4 years in prison, after pleading guilty to conspiring to defraud clients as the 2008 financial crisis approached, Reuters reported yesterday. Former managing partner David Bryson had pleaded guilty last May to a charge of conspiracy to commit wire fraud. Federal prosecutors had accused him and two co-defendants of helping conceal changes in the capital structure of one of New Stream's funds, to avoid losing the Ridgefield, Connecticut-based firm's largest investor. Authorities said New Stream was once a $750 million firm that specialized in investments such as loans backed by real estate and life insurance contracts. It filed for bankruptcy protection in March 2011.
