Petters Cohort May Duck Lying Charges In $3.7B Ponzi Case

Law360, New York (February 14, 2012, 2:22 PM EST) -- A magistrate judge on Monday recommended that a Minnesota federal court dismiss criminal charges accusing a former executive of hedge fund Arrowhead Capital Management LLC of lying to securities regulators during their investigation of Thomas J. Petters' $3.7 billion Ponzi scheme.

U.S. Magistrate Judge Jeffrey J. Keyes said three counts of the indictment against former Arrowhead President James Nathan Fry should be dismissed because they improperly lump together multiple lies Fry allegedly told investigators from the U.S. Securities and Exchange Commission during their probe of Peters,...
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April 20, 2011

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UK Financial Services

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