Hedge Fund Manager Indicted, Millions Still Missing

Law360, New York (May 26, 2006, 12:00 AM EDT) -- Atlanta hedge fund manager Kirk Wright has been formally indicted on charges of mail fraud stemming from the loss of over $100 million in investments, the bulk of which has yet to be recovered.

Wright, who in February disappeared after investors in his International Management Associates hedge fund began complaining that they could not withdraw funds from their accounts, was arrested last week in Miami.

A district court judge in Atlanta stayed a request for release, ensuring that Wright will remain in jail. Bond has been...
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