Todd Hitt pleads guilty to fraud

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Former Kiddar Capital CEO Todd Hitt pleaded guilty to orchestrating eight counts of securities fraud that ultimately cost investors $20 million, according to a plea deal announced Wednesday by the Department of Justice. Hitt faces a maximum penalty of 20 years in prison and a fine of $5 million or twice the gross gain or loss, whichever is greater, though the Department of Justice noted that actual sentences are typically less than the maximum penalties. He is scheduled to be sentenced June 21. The...

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