NEW YORK (AP) -- A hedge fund's chief operating officer has been charged in New York with forging documents so he could steal $250,000 from one of the funds he managed.
Prosecutors say Mark A. Focht of Suffern, N.Y., used a forged authorization form in April 2007 to take money from a bank account belonging to Pierce Diversified Strategy Master Fund.
That fund is one of several managed by Focht's firm, 3V Capital Management LLC.
Prosecutors say Focht claimed the money was invested on the fund's behalf but he actually took it for himself.
Focht, who's 32, was charged with grand larceny, forgery and related counts. He faces up to 15 years in prison if convicted.
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