Recent Comments

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.

--
Did you enjoy this post?

Hedge Fund Street Newsletter

Subscribe to our free hedge fund newsletter, published monthly. Enter your email address:

Comments

Post a comment






« Tata Steel's Corus Debt Buyback Plan To Hit Hedge Funds? | Main | Hedge Funds: The Story »

Syndicate

Add to My Yahoo! Add to MyMSN
RSS Feed Subscribe at NewsGator Online Subscribe at Bloglines

Feedback