Fund Head Wants Lying Charges Nixed In Petters Case

Law360, New York (September 2, 2011, 7:55 PM EDT) -- The former president of Arrowhead Capital Management on Thursday asked a Minnesota federal court to throw out allegations that he lied under oath to federal securities regulators during three days of testimony about his involvement with jailed Ponzi schemer Thomas J. Petters.

James Nathan Fry is awaiting a February trial on charges of aiding and abetting Petters' $3.7 billion scheme, securities and wire fraud, and making false statements to the U.S. Securities and Exchange Commission as the agency questioned him last fall.

But the false statements charges...
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