Paul Pomfret, a former hedge fund manager who played tight end for Penn State’s national championship football team in 1986, faces up to 20 years in federal prison after pleading guilty to wire fraud.
Federal prosecutors last year accused Pomfret of defrauding a South Carolina businessman of $500,000. The unnamed victim met Pomfret in the Cayman Islands in 2010 and agreed to invest in Pomfret’s hedge fund, PDP Capital Investments of Palm Beach, prosecutors said.
Subscribers get total access to this story, and all our in-depth news, digital editions and exclusive content. Subscribe today, or try a 24-hour or 7-day digital pass.
Registered Post Subscriber — Sign me in.Sign In
Post Print Subscriber — I need to register my account for digital access.Access Digital
All Day Access — 24-hour digital pass99¢ for 24 hours
All Week Access — 7-day digital pass$3.99 for 7 days
All Access, All the Time — Print & DigitalView Offers