Father, son to plead guilty in Madoff-tied scam

A former Massachusetts Institute of Technology dean and his son have agreed to plead guilty to criminal charges for running an alleged hedge fund scam that lost more than $140 million in investors’ money, according to federal prosecutors in Boston. Investigators said they discovered the scam while they unraveled Bernard Madoff’s infamous Ponzi scheme. Gabriel Bitran, 69, and his son Marco, 39, are accused of conspiracy to commit securities fraud, wire fraud and obstruction of justice in connection with their GMB Capital Management and GMB Capital Partners hedge fund businesses. More in USA Today here.