Forty-eight-year-old Alan Scott faces up to 24 years in prison on his conviction.
Scott served as a customer service representative for the Vision Fund - an unlicensed hedge fund in Colorado Springs. Prosecutors say Scott failed to make the required disclosures. The hedge fund was put in receivership that returned about forty cents on the dollar - leaving investors with more than $12 million in losses.
In a separate judgment, Scott agreed to repay $850,000.