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A New York entrepreneur who received a $400,000 economic development package from the state early last year to develop a medical-technology innovation hub in Hartford has filed for personal bankruptcy, according to court records.
VC Firm CEO Gets Six Years in Prison for Ponzi Scheme David Wagner solicited nearly $10 million and used investor funds to buy a Porsche and pay earlier investors. The CEO of a purported venture capital (VC) firm has been sentenced to six years in prison for securities fraud and wire fraud in connection with operating several corporate entities as a Ponzi-like scheme. David Wagner, CEO of venture capital firm Downing, had previously pleaded guilty to soliciting nearly $10 million from approximately 40 investors through materially false and misleading statements. Wagner used a significant port...