Millions Unaccounted For In Growing Hedge Fund Scandal
By Marius Meland
Law360, New York (February 27, 2006, 12:00 AM EST) -- The unraveling of a major hedge fund continues as federal and state officials say they have only been able to locate about $150,000 of the supposed $150 million invested with the money-manager caught up in fraud allegations. Authorities have issued an arrest warrant for the fund’s chief executive in order to aid them in their search for the firm’s unaccounted assets.
Kirk S. Wright, the embattled founder and CEO of International Management Associates LLC, divulged in a Feb. 15 interview with the Wall Street Journal that...