Canarsie Capital founder Owen Li managed to lose $57 million in two weeks, leaving his investors with only $200,000 and a letter of apology. Now, he can add a felony conviction to that record after admitting he lied to investors and regulators about his hedge fund’s performance. All before his 30th birthday. Li, 29, surrendered to U.S. authorities Wednesday and pleaded guilty to a single count of securities fraud and making a false statement, Manhattan U.S. Attorney Preet Bharara said in a statement. He faces as long as 20 years in prison when he’s sentenced. Li’s fund collapsed in January after the firm lost $57 ... (full story)