Fugitive Hedge Fund Manager Caught
Missing for nearly 3 months, fugitive hedge fund manager Kirk Wright was caught on Wednesday in a Florida hotel. Wright disappeared after his hedge fund went under, and investors lost at least $100 million. The list of allegedly defrauded investors reads more like a sports roster:
His client list is top-heavy with athletes, active or retired. It includes ex-University of Georgia star Terrell Davis and one-time Denver Broncos teammate Steve Atwater, along with NBA standout Antawn Jamison and Georgia Tech alumnus Willie Clay.
Wright could find himself in jail for 20 years and paying $250,000 in fines. If you ever find yourself the victim of hedge fund fraud, here are some tips about how you can proceed.
It is a misconception that Kirk Wright swindled primarily athletes. Those few individuals have caught the media's attention, but there were hundreds of other unsuspecting investors that were targeted and had no business investing in this type of fund. What a mockery that someone who has fiancially devestated hundreds of people and squandered or squirreled away over $100 million dollars should be fined a mere quarter million. Even at 20 years jail time, he could emerge at early middle age and be a multi-multi-millionare. So tell us all about justice and deterrence to crime.
24 counts each carrying 20 years. Do the math.
And by the time he gets out, maybe he will finally have access to the few dollars of that money which is left after the civil suits.
Facilis id natus quas nostrum. Dolorem aut facere eum officiis nemo vero.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...