Tara A. Bryson, executive of Ridgefield-based New Stream Capital has plead guilty to drug possession charges.
She was sentenced to one year in jail, which was suspended, and a year of probation. Bryson copped a last minute plea deal with the State of Connecticut. In return she had felony charges of conspiracy to cultivate a pot farm reduced to a misdemeanor–possession of a controlled substance under four ounces and possession of drug paraphernalia. A Danbury criminal court clerk confirmed the charges today.
Bryson’s arrest report shows Connecticut State police found over 203 marijuana plants in her million dollar Newtown home so the charges being subbed out from cultivation of marijuana to only possession less than four ounces appears to be a lucky break. I previously reported her live-in boyfriend Michael Hearl also plead guilty and will serve two years in jail; which reads like he took one for team because Tara Bryson won’t be joining him in the slammer. The hit to Bryson’s wallet appears to be only in the form of legal cost because the State is asking her to pay a measily $15 fine. If the State had held to the original pot farm cultivation charges, they’d filed against Bryson last July, she’d be facing felony charges and up to 7 years prison time.
New Stream Capital, co-founded by her brother David Bryson, had previously stated Tara had been suspended from working with the fund after they learned about her drug arrest from press reports. Last month the hedge fund filed for chapter 11 bankruptcy and is currently battling with some of its investors to maintain control of fund management. It’s unclear, now that Tara is free, although found guilty of a misdemeanor, if she’ll be returning to New Stream or any of David Bryson’s other asset management companies.
But this hedge fund executive isn’t totally out of the woods yet. I’ve previously reported the FBI is investigating the fund (this included Tara and David) for among other things charging investors excessive fees by over valuing assets. Last month we learned the Securities and Exchange Commission has now joined the investigation.