Sixty-two year-old hedge fund manager John C. Tausche was sentenced to 4 ½ years in prison in a federal penal colony after he was found guilty of participating in a $311m scheme to defraud his investors.

A report by Philly.com said that Tausche and his co-accused, German national Helmut Keiner, ran the Oceanus Funds from his offices in Wichita, Kansas, and