Camelot Group Boss Charged With $9M Theft From Investors

Law360, New York (February 10, 2014, 2:19 PM EST) -- The managing director of private equity firm The Camelot Group and an associate have been charged with stealing about $9.3 million in investor funds, prosecutors said Monday, less than two weeks after the U.S. Securities and Exchange Commission sued them over the alleged scheme.

Manhattan District Attorney Cyrus R. Vance said that Camelot head Lawrence E. Penn III, 44, and Altura St. Michael Ewers, 44, had both been charged with grand larceny, money laundering and 30 counts of falsifying business records for unlawfully draining a Camelot...
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