You will be given a definition of a task first, then some input of the task.
In this task, you are given a piece of an article. Your task is to generate a short summary of the text. Try to give the summary in just one sentence.

David Ross, former manager of Ross Asset Management, pleaded guilty to five charges laid by the Serious Fraud Office and three charges by the Financial Markets Authority in the Wellington District Court and has been remanded in custody.
Output:
David Ross pleaded guilty to five charges and has been remanded in custody.