Don't Be EvilJustin Hibbard
Anybody remember the Acorn Technology Fund? The Pennsylvania-based VC firm backed such startups as Aloha Networks and NetVendor. And that's not the only place its money was going. Last Friday, Pamela Torkelsen, a 43-year-old former manager at Acorn, pleaded guilty in U.S. District Court in Washington to "interstate transportation of stolen or fraudulently obtained property," according to an Associated Press story. Prosecutors say she and others stole Acorn's funds by routing money through a related entity called Princeton Valuation Consultants and making it look like the payments were for salary or shareholder distributions. She faces up to 10 years in prison and a $250,000 fine.
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