February 15, 2007
Kirk Wright Hit With $20 mn Fine
Why Kirk Wright did what he did is something we’d rather leave to the philosophers to decipher. As of now, Wright’s in jail, cooling his heels and awaiting trial. The charge: defrauding investors including several American football stars. Wright was recently ordered by regulators to pay a $20 million penalty.
The penalty is supposed to be equal to the amount that he diverted to personal bank accounts. He did this during a nine-year period in which he defrauded around 500 investors to his fund of $185 million.
Wonder if this latest fine satisfies NFL players Steve Atwater and Ray Crockett among others.
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