We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Manager Of Minority Fund Absconds With $400,000

Law360 (November 29, 2005, 12:00 AM EST) -- An investment fund manager who allegedly stole $400,000 million from a fund set up to benefit minority owned businesses has been sued by federal prosecutors, four years after the fund collapsed.

In a complaint filed in the U.S. District Court for the Eastern District of Missouri, prosecutors allege that Byron Winton, the manager of now-defunct Civic Ventures Investment Fund, took a $350,000 fee from the fund as it teetered on the brink of bankruptcy.

According to the complaint, “defendant breached his fiduciary duty by his negligence,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.