Hedge Fund Managers Charged In $311M Fraud Scheme

Law360, New York (February 7, 2013, 3:49 PM EST) -- Federal prosecutors charged two former hedge fund managers with orchestrating a $311 million money laundering scheme that defrauded Barclays Bank and Bear Stearns, hitting them with a combined 11 criminal counts, according to information unsealed and an indictment filed Thursday.

Prosecutors charged Helmut Kiener, 53, with a nine-count indictment alleging four counts of wire fraud, two counts of bank fraud and three counts of money laundering, and charged his partner, John Tausche, 61 with a two-count information that alleges one count of bank fraud and one...
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