Admitted Ponzi swindler Francisco Illarramendi has agreed to a permanent ban from the securities industry, authorities say.
The Securities and Exchange Commission announced Wednesday its acceptance of Illarramendi’s offer to agree to the lifetime ban.
The New Canaan hedge fund manager pleaded guilty in March to several counts of fraud related to his handling of unregistered hedge funds in Stamford.
The money invested with him included hundreds of millions of dollars belonging to a pension fund for Venezuelan state oil workers.
He awaits sentencing.
