Stamford man sentenced in money scheme

Stamford resident Berton Hochfield, the former manager of New York City-based Hochfeld Capital Management L.L.C., was sentenced today in Manhattan federal court to two years in prison in connection with an investment scheme in which he stole more than $2 million from investors.

He was also ordered to forfeit more than $2 million.

Hochfield pleaded guilty in January to one count of securities fraud and one count of wire fraud before U.S. District Judge Paul A. Crotty, who also imposed the sentence.

Manhattan U.S. Attorney Preet Bharara said: “Berton Hochfeld scammed investors who trusted him out of more than $2 million and spent it in part on luxury items for himself. This Office will not tolerate those who seek to bilk their investors.”

According to the charging instruments in this case and statements made in open court and at the plea proceeding:

Hochfield was the manager and organizer of Hochfeld Capital, a limited liability company incorporated in Delaware that, at various times, maintained an office in New York City.

Hochfeld Capital, in turn, served as the general partner of the Heppelwhite Fund L.P., a hedge fund that was formed to invest in publicly traded securities, mainly in the technology sector. In connection with the management of the Heppelwhite Fund, Hochfield made false representations to investors regarding their investments, and misappropriated their money.

In addition to his prison term, Hochfield, 66, was sentenced to three years of supervised release.