Brooklyn Boro

Former owner of Islanders pleaded guilty to fraud

October 31, 2014 Brooklyn Daily Eagle
AP Photo/Larry Neumeister
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Stephen Walsh, a former partial owner of the New York Islanders, leaves federal court in New York on Wednesday after a federal judge told him she plans to send him to prison for 20 years after he pleaded guilty in a 13-year fraud. Prosecutors said he lived lavishly while he misappropriated more than $50 million, mostly from institutional investors. A judge has given him until Nov. 4 to decide whether he wants to ask to withdraw his guilty plea.

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